Bitcoin Forum

‘’The Bakkt news is ostensibly the most bullish occasion for institutional financial specialists in the historical backdrop of bitcoin’’ tweeted digital money expert Scott Melker. Supported by the New York Stock Exchange, the bitcoin market is relied upon to arrive at its zenith with a successful advancement rate.

The person on foot of Bakkt is simply the Intercontinental Exchange which is a $52 billion market top exchanging mammoth. It was at first expected to start last December however factors like national government shutdown deferred it and after that facebook Libra took the features, yet now the hotly anticipated Bakkt is back which would likewise challenge Libra.

News Source: TheCoinRepublic
 https://www.thecoinrepublic.com/bitcoins-fragility-will-bakkt-act-as-panacea/

Bakkt already launch and nothing has happen on the bear market. In fact, we are in below 10k level. The hype on bakkt launching keep on fading because of their delays on the launch. But still, its a great adoption on whole market as a whole, we might not see it on the current price but we will see the growth in the coming months.

I have hoped for such a massive price increase at the point when Bakkt exchange goes live, but in the reality the trading volume of the first day is worse than disappointing. Around 20 BTCs in total, I was expecting much more from such a hype announcement.

Well, that's true and disappointing. We've thought about that the launching would be as exciting as what we've been waiting for.
But my take here is that wait a little bit, it just started to why not give it a chance?

It seems that Bakkt is not as expected of everyone 24-hour trading volume seems too low spending 70 BTC. This could be the reason why the price of BTC plummeted yesterday, I look forward to an increase in Bakkt's trading volume.

"cure-all"? Definitely not! This is a concrete example of a question asked due to the over-hype made around Bakkt. Bakkt is no cure all. Neither is it a silver bullet that would catapult Bitcoin into a new ATH.

Bakkt may be a great achievement especially in terms of mainstream adoption but it will take time before it attracts the rich institutional investors.   

It appears as if it's a matter of bad timing. If Bakkt was released during the previous BTC bullrun it probably would have done great. It opened when BTC appears range-locked, or if anything, slightly bearish.

So it obviously didn't have the impact folks assumed it would. Or if it did, it was priced in like 2 months ago. We'll just need to wait a while longer, it can still make a difference, but it certainly doesn't look like right now it's going to help much.

So many people are feeling disappointed caused by that.
Remember this thing already happened with some bitcoin ETF that has already launched in the past. That's why i will not put a very high expectation to the bitcoin BAKKT.
The real adoption of crypto is not yet to come.
That needs more time for crypto to be adopted.

  The experts had expected too much, the arrival of Bakkt was really bad. It made me so disappointed today, I was waiting for the growth of the market but no one seemed to respond to the launch of Bakkt.
Currently its trading volume is only 72 bitcoins, a number that cannot be worse.
We have no hope for the next pump, a good time to run away.

whether it can be a medicine or not, because maybe some people and traders have also been pessimistic about this situation that is not finished. surely everyone is waiting for a moment that can change and improve market conditions now, but we still have to see how bitcoin trading and adoption can increase or not.

The Bakkt launch is much much awaited from long time and yesterday it been launched but the market did not react on Bakkt launch as I feel all crypto traders or holders are expecting a huge boom in bitcoin price but it did not happen. I hope we will see good movement gradually in the market because Bakkt launch is itself a hugely positive move for the crypto market.

In reality, the market has decreased by around 15% from the day bakkt launched! While majority of the community members including me are bullish about Bakkt because they offers the first physically settled bitcoin future contract, but everything seems move to the different way!

Do you think it is a mere correction or there is a correlation?

Despite all these that should have sounded positive for bitcoin and increase the price, yet I have still not seen any slight improvement in the price of bitcoin which I so much expected ought to have even started making impact before the launch of the project as a result of people's expectation which should make them make some minor purchases ahead of the back, but no one seems to shake their body that much to the news.

We are the one here full of high hopes, while I don’t think it has ever motivated the investors to make the investment that is needed to help push the value of bitcoin high. I am still giving it time to see how effective the use of bakkt platform will be and create that bullish trend you think it will create in the long run. Within the next one month, if nothing still happens, then bakkt isn’t the savior.