Bitcoin Forum

Finally, it's lived now. I wonder what will happen in the next few hours after this. Will it affect the bitcoin price, and we will see the next higher price, or it will remain like the price now?

What do you think, guys? I don't know if the news is real or not, I just read on twitter ;D

Source : https://twitter.com/Bakkt/status/1175938226554658824?s=19

On the long term, it should be good.

On short term (next hours), it's up to day traders and speculators. Imho the price was decreasing artificially during the weekend. It may reverse or not. Or we may see a short pump and dump. Or a bull run could start. Did I miss anything? LoL. It's very hard to predict and many say what they wish instead of what could really happen.

I kinda wish for a pump, no matter if it's short lived or not.

https://i.redd.it/iv8y8sxol9o31.png

Well it has started, so let's hope institutional traders see the potential in this investment option and they grab the opportunity to buy some, whilst it is still relatively cheap.

The slow start is typical of institutional investors that are used to "safe" investment options and traditional asset classes that are guaranteed to give them small profits.  ::)  They also know the puppet masters of the stock exchange manipulate other asset classes, so they have protection against losses, before it happens. <They do not have that safety net with Bitcoin>  ::)

https://www.reddit.com/r/Bitcoin/comments/d815iu/exclusive_behind_the_scenes_a_bakkt_courier_was/  Give it a upvote for more exposure.

The launch of Bitcoin futures on the Bakkt platform is a highly anticipated event. At the moment, the price of Bitcoin is in no hurry to conquer new peaks, on the contrary, it has even slightly decreased. Although in the medium term, this event should push the price up, because this is a completely new investment opportunity.

The news is real, Bakkt is live. As for how it will affect the price — it will be healthy for Bitcoin, but it won't cause a price surge. It is a step in the right direction imo, but that is all that it is.

Bakkt is a great add to the CryptoCurrency mood to be honest.
We need more Bakkt Niche in this space to make Bitcoin & CryptoCurrency mass adopted.
I personally don't like the Future, i'll stick with trading where i feel better, but Bakkt made great move to make Bitcoin & CryptoCurrency more exposed to the mas & real investors.

Well this is all good news for all the Big Bitcoin Holders as they will eventually be sitting on a gold mine, especially with Bitcoin halving next year. This is at least a step in the right direction for mass adoption but mainly happening from the top end of Society, by those who hold the large purse strings. I think now big capital will be comfortable to acquiring more and more of this deflationary asset. Well deflationary in the sense that less and less of it will be mined every four years or so. BAKKT is something many were waiting for.

According to the below article, the first day trading volume in Bakkt is little over $290,000. Not a great start indeed! Especially with the huge hype they enjoyed before the launch whereas CME had managed to get over few hundred millions within the first week!

https://www.coinspeaker.com/bitcoin-ices-bakkt-futures-250000-barrier/

However, I am still very optimistic about bakkt because it has the capability of turn the tide in favor of crypto as it is physically settled contract unlike any other contracts available in the market!

 This is the key for mass adoption, not only on restaurants with btc payment method but surely this will hit on other industry even it has a low trading volume. Months by now it will start pushing the price of bitcoin making it unstoppable next year. Let us pray for institutional investor to get jump in BAKKT as they are anticipated to do the price increase making the price of bitcoin healthy in long term.

They had a chance for a huge hype... a year ago when they were supposed to launch. But then there was December and then there was February or March and then there was... yes September. People had enough of their delays and empty words and many gave up on the idea and lost interest. Those who did not are waiting for the big money to come in. Sounds pretty normal I'd say, but what if the big money is also waiting for someone else to make a move. We'll probably have to wait until the halving hype kicks in.

That news is beneficial for the market, RT is a great news chain, seeing Bitcoin there is synonymous that there are many people already online knowing and wanting to know more about technology, I believe that the demand in the market can increase as the time, so you can expect the price of Bitcoin to start rising. There are many investors worldwide who do not know what to invest in and seeing the boom that Bitcoin is taking is very good, because they will begin to lean on this side of the market, a volatile and exciting market.

First impressions after Bakkt launched looking not so good. Bitcoin still continues to go down and now the price is 9850 dollars. But who knows, this may be indicating a forthcoming bull run.

After a long waiting period I’m glad they were able to get it running, but I don’t think it’ll have any effect in the short term because people are not as excited about it as they were before. However in the long run I’m expecting it to influence bitcoin prices, and we may even see massive gains because of Bakkt in coming months. It’s pertinent to note that bitcoin prices have dropped about $200 on preev, hence I believe we’ll have to be really patient to see Bakkts positive effect on bitcoin prices.

Don't bet against Bitcoin, you will be hurt... The others? Fair game, especially the centralized "stable" coins, give them enough time and they will fail :)

All i have been seeing for the past few days is people hyping bakkt and saying it will have a positive impact on bitcoin price, it will be very disappointing if it doesn't.

Thank you for all your reply.

It seems Bakkt aren't yet to give a chance for the price to increase because the price still not moves up (it's too early to say, I know that ;D).

If I check bitcoin price on the market, the price still on the down to the low price but I hope it will get an increase in the next week since we are getting support now.

But I still believe that with Bakkt, bitcoin will going to strong than before, that will make more people, and institutional comes to bitcoin. People will see new hope in the investment section, and they will select bitcoin for their investment.

We are all hoping that at the end of the year, Bakkt has become an influential player in the whole Bitcoin marketplace and can pull in huger numbers under its belt. For the meantime, the excitement and anticipation on this new platform had already been factored months ago that is why there is no noticeable jump in the Bitcoin price as of the moment and there is even a possibility that Bakkt can be pulling down further the price. Hopefully, though, on the long-term basis this can be helping and will not be able to actually restrict the growth of Bitcoin as what many people are fearing. Good luck to Bakkt, to Bitcoin and the rest of us holders and supporters.

Everyone has to buckle up because Bakkt is going to be a long drive. No prophecy is saying that with Bakkt the price will make an enormous climb in value overnight. If you heard such remarks, they are simply spreading baseless FOMO by exaggerating Bakkt's potential short-term benefit to BTC's price. As for now, it is enough to celebrate that finally this Bakkt is launched. For a while, I even thought ICE have shelved this plan for good.

In the meantime, here are nice links I got from another thread for monitoring.

It's interesting to see the market now. After Bakkt launch, the price triggered to be down, and now, bitcoin reach $8k, and it stays in that price. Many people were expected to see the increasing of the price but the fact, the price is down deeper. It could be the benefit for people who wants to buy more bitcoin but also this could be a loss for people who already buy bitcoin at a higher price. But we need to calm down for a while to wait for the bitcoin price increases again. Meanwhile, we could load more bitcoin in our wallet so we will be ready when the price can jump to the higher price in the next months. Although we don't have any sign about when the price will increase, I am sure bitcoin will rise again.

There is no loss until you sell. Those who faithfully keep their coins and wait for the storm to pass, will eventually overcome it. Panic only makes people react impulsively and mistakenly. You need to act cold, which is why you were supposed to invest something you didn't mind "losing" in the first place, so that you become unaffected by these normal price fluctuations. Just wait it out, or take the chance to buy cheap coins while they last.

Sure, Bitcoin price will rise again, that I am quite certain of. But the price decrease is indeed a shock to many, cause many didn't expect it.
As Bakkt went live, many expected the price of Bitcoin to rise since it creation is another exposure to Bitcoin adoption. However, when the price dropped to 9k, FOMO made a lot of people to sell further.

Many people think that after BAKKT is live, the price of bitcoin can rise sharply, but the opposite is true. Maybe this happened because of excessive expectations and not in line with many investor expectations because it turned out that the volume of BAKKT transactions was not large and even tended to be very small compared to the long-time exchanger

I just don't know that after Bakkt launched, we all knows that Bitcoin dropped from 10, 115$ to 8500$ in accordance with the coinmarketcap
https://coinmarketcap.com/currencies/bitcoin/ probably, some of the community after bakkt launching they are expecting that bitcoin will immediately increase its price in the market, but what happened instead of that it dropped so much, However even its happened I can still consider it as a good timing to buy Bitcoin or some other altcoins.

Bakkt saw 18 Bitcoins yesterday morning. Has someone information about how much Bakkt saw today?

I am not selling my bitcoin, I still hold it in my ledger. I am trying to be a strong holder while I am trying to buy more bitcoin. And now, I see a good chance to add more bitcoin into my wallet, and I am sure that when the price increase more than now, I can make a big profit too. Staying calm will be the best thing that we can do at this moment because if we panic, we cannot see a clear sign to buy bitcoin at a low price.


Yeah, many people shocked to see the price can reach $8k level price because some of them are not guessing the price can do that. But that is what happens now, and we could only follow the price and buy more bitcoin if we want. These situations make us more careful to decide because the price can go anywhere without we can expect.

I am sure that many traders were expecting the start of Bitcoin futures trading, but unforeseen circumstances occurred on the cryptocurrency market and the price of Bitcoin fell.  Many people today express their opinion that it was the beginning of the trading of Bitcoin futures that caused the price of Bitcoin to drop, but in my opinion there are much more facts in the information space that could affect the entire cryptocurrency market non-negatively.  I believe that the increased pressure from the governments of many states today on cryptocurrencies is caused by just such negative consequences and I do not want to talk about bad ones, but if this trend continues, then improvements in the cryptocurrency market are not expected in the near future.

We've all seen the potential short-term impact of the launch on the market (if Bakkt is to blame), but the long-term influence is yet to be determined. Just like the overall success or failure of the project itself, by the way. I guess the first days are not as exciting as Bakkt would want us to think. It's just thousands of dollars which seems close to nothing (by the way, the CME futures had more contracts within the first hour than Bakkt within the first day). Moreover, there haven't been any updates on Twitter after the second day of trading which might hint that the situation got even worse.

You are right, the launch of the Bakkt platform will have a very positive effect on the price of Bitcoin in the long term. A new investment opportunity has just arisen and it needs time to attract serious investments. As we already see now, the rally with the release of the news did not happen. The reasons for this are a decrease hash rate of Bitcoin and, possibly, some negative news that came out in parallel with the launch of Bakkt.

The Launch of Bakkt was a disappointing one. There were so many rumors and hype in the market that bakkt platform will change the crypto market and there will be a lot of volume. But we see nothing of this kind. In-fact the opposite of this happen and bitcoin price went below 9000$ for the very first time in last 4 3 to 4 months.

Even it was disappointing, I guess we have a golden ticket to buy bitcoin at a very low price now. I see the price was trying to increase, but I am not sure that if it just temporary and will get down again or not. But if I check on the chart by daily, it seems, the reverse will be coming in the next week (maybe and I hope).

But if it's not coming, I think we need to wait and still hold bitcoin for more. The bakkt is just beginning, but that will give a positive effect in the future because bitcoin now become popular in public and I am sure that soon, people will come to the cryptocurrency world. Maybe we need to give more time to bitcoin to increase the price.

However, this is only an assumption that Bakkt will still positively affect Bitcoin. So far, I see a small attraction of large investors to Bakkt and the beginning of a bear market without the recovery of Bitcoin but who knows what will be further.

This is pretty good however we need more exchanges to start trading btc futures because only when lot of exchanges have these futures market manipulations of prices like pumping and dumping would stop. We have heard that recently Wilshire phoenix have created Bitcoin ETF however SEC has delayed it's decision therefore price was dumped. So it's a good headstart but let's see where we will head with these futures.i think it was a mere coincidence that prices have dumped after bakkt futures have started. i think this dump was due to delayed decision of SEC on ETF. Moreover technicals also validate this bearish phase so I think its normal coincidence. We have recently phased a death crossover on daily chart.

Bakkt still not have good positive effect for bitcoin price right now, bitcoin keep with lower price after discussion about Bakkt and SEC to legal bitcoin and want to promote bitcoin to the world.

It should probably be a goodthing in the long term but as of now, I dont think its possible to see any positive benefits it can give out. Assuming that it can hold out to the point where it can pull benefits by itself already. It appears quite weak since it really was kind of hyped too much but it should surely bring about benefits if it can stand its ground.

I am excited to see that finally bitcoin futures have started trading at bakkt. This has become a viral topic for bitcoin community as we are expecting a little bit of price increase given this event. But though there was no price increase but it is still a good news. The most important part is that it started and soon the volume of transactions will increase and possibly that will mean a price lift for bitcoin. Anyway I have encountered a post here in this forum and I found out that bakkt is not the only website exchange that engages in Bitcoin Futures so I recommend to you guys to check it out here is the link:


https://bitcointalk.org/index.php?topic=5189072.msg52612647#msg52612647