Bitcoin Forum

So looks like we're still BAKKT up guys and I zoom out the charts and check this shit out .... This may push the pump back until November!

BAKKT The Pump To November:
https://www.youtube.com/watch?v=MLT3tCMoXpU&t=150s

Most enthusiasts are still uncertain about the effect Bakkt, would have on the market, initially and also on the long run. If the timing is right it could ride the waves of a pump and take the value higher.
The Bitcoin halving is also coming up in a couple of months. This would also have an effect on the market value.

Bakkt effect is supposed to be slow and steady and may have not happened yet, since Bakkt may still "use" Bitcoins bought before its launch.
So I'd say that for now the "Bakkt effect" is only mentioned here and there for speculation.

Didn't click on that video but my take is that people are really being enthusiastic about Bakkt, we have seen it effects on the market early on and it's not good.

However, let's give it some time though, maybe it can bring more money this November - December and we can see some actions along the way. If no price boost in the next two to three months then we can call Bakkt the "bust of the year", Lol.

Bakkt off. I see otherwise and believe so many people were disappointed with Bakkt's initial debut and I doubt if it's ever going to be a source of a price increase. As far as i know, the only thing we have going for at the moment is the upcoming halvening and historical charts.

Sad to say but it seems Bakkt is a failure, until proven otherwise.

I am still trying to understand the impact of BAKKT on the market because as loud as the noise that surrounds its laughing, as quiet as its effect on price and even gotten to the point of looking at whether if it has not been launched, maybe price wouldn't have taken the dip. I am equally looking forward to that time that some credit would be given to BAKKT so that the promoters can have something to brag about on bring revolution to the crypto market.

I don't know if Bakkt has had an impact on the bitcoin dump, at the end of September...
For sure you can check the volume of traded bakkt contract on ICE.
And the traded contract number really poor!
This is due to the market conditions?
Maybe yes.

https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541&span=1

https://i.imgur.com/TUZLKrj.png

Every time news is new about Bitcoin it will be a matte4 of lenghty discussion and debate.

Until now BAKKT has not given good or bad sentiments, everything is still running at normal limits, but for some time in the future.

I think BAKKT's effect on the market is way overhyped. If you remember a couple of years ago when Bitcoin futures came out, it actually caused the price of Bitcoin to drop and all you heard during that time was Bitcoin to $100k. Keep in mind, people can also make money off of futures contracts if the price drops. It doesn't have to go up for everyone involved to make any money.

I don't know how much the trade on bakkt is now, but I think the last time I checked, btc traded had risen to 23 btc which is still quite very low to cause any major development for the price of bitcoin in the market. It is too early actually to expect anything from bakkt, they were just launched and I think the era of hype is over now, many people thought the price of bitcoin will shoot up because of bakkt hype, but I guess hype is no longer that effective, what will do the job right now is real use case and time.

With time, the value of bitcoin will increase as the bakkt platform gets more people to trade on their platform, though bakkt cannot do this alone, there are still many other things or factors that we need to wish for, for bitcoin to really go on high rally again.

To be honest, I am too tired hearing about BAKKT. BAKKT will do this, will do that, blah blah blah. I doubt even 10 % of people talking about BAKKT know jack shit about what it is, let alone how it affects the price of BTC. Everyone was like woohoo now with BAKKT btc will pump, yet it dumped. Geniouses.

The price pumping was much expected based on the launch of Bakkt. To the expectation all that happened in the opposite manner. Now the wave based on the Bakkt have got to an end and people have stopped talking about the same. Probably this will surely make a change in the the market long term.

Bakkt magic is not over yet, market moves independently and sometimes don’t reflect on news easily. In this kind of speculative market anything can happen, most investors are disappointed due to its negative effect after announcement. I don’t expect that much, Its better to focus on market analysis than relying on hyped news.

Not really fan on posting into some speculative threads specially if there are sentiments being tied up.I dont expect any pump's anytime soon and if theres one
then it wont really behave just like a spike rise but rather a gradual or slow pace if ever these a price increase.Dont hoping too much on what Bakkt would affect
the entire market condition but at least we've known that its there but for people shouldnt really hope too much.

I agree, I would rather see a gradual and organic rise because of Bakkt instead of a. sudden spike that will cause another excitement for traders but it the end it's just another pump and dump. For experience traders, we all know that it will really hurt the market in the long run. Of course I wanted too see the price goes up again, but I don't expect something big to happen because of Bakkt. We have seen its effect and it's really disappointing to say the least.

This is the volume of Bitcoin since the month of September.
https://i.imgflip.com/3clhn6.jpg
What I can see for the "BAKKT' things is still impossible, remember when BAKKT started their operation? From $10,000 dumps through below $9,000 and now look, we are struggeling if we will stay above or under $8,000.
I don't we can do some PUMP on November, but what I am looking forward is pump before november and possible some price corrections on November.

If there's going to be any effect, it certainly is a slow going one.  And what does it matter if Bakkt is using coins purchased before the launch?  I cant see how that matters but maybe it does.

I think there will be a rally next year and not in 2019.  No doubt there will be some selling motivated by big traders looking for a tax deduction on losses.  Small traders won't do this but those using Bakkt will, just like the stock market.  And next year is not too far away.  I just hope bitcoin doesn't break through $7000 before its all over.

although there are issues like that I am not too sure that can happen because I feel that news like this has not affected traders anymore, traders need price increases that have not been appearing for a long time.

We have less than a month to wait for the pump to really happen in November or not. If the pump is not happening in that month, then we need to be patient, and we need to wait for more. There is no exact time when the pump will come, and no one will have the right prediction about the pump. But I feel that Bakkt will give another support for bitcoin and Bakkt will convince people that they can invest in bitcoin too.

But even if the pump does not come for this year, we have a chance to see the pump will come before or after the halving, and soon, the price will start a rally to the higher rate. No need to feel disappointed if the pump does not come yet because, in the long-term, the price will be back to the higher price, and now, we need to prepare for the coming.

if this good news really happens then this can provide fresh air for traders and I have also been waiting for this moment, today I also see the market conditions in coinmarketcap which seems to have begun to rise in price I hope the price of bitcoin can return to high prices again.

Are we still holding on to Bakkt until now? Bakkt is good for the longer term. That is the better way of looking at it. There is no need to push yourself believing that Bakkt will cause a sudden pump to the price days after the launching. We can see that Bakkt trading did not turn out the way the hype built around it makes it appear. Instead of a pump, the Bakkt launching day was characterized by a drop on the contrary.

It should be, it doesn't mean that when Bakkt is approved means that it will moon immediately. Its another avenue where investors can obtain bitcoin and trade. It should be a slow rise, though unexpected, the  price is now is below $10,000. Bakkt approval is a good sign, it adds bitcoin popularity and legitimacy.

We must not put too high expectation again in Bakkt if it will give us chance for pump to November then let it be, sometimes we exercise too much excitement that gives us heartaches and guilt in plans we wanted to do. Let us give itime and Bakkt be developed fully and so do our own ways of earning, trading , and etc. We already put hope in Bakkt before but it only turnouts differ when it release maybe when it is fully functional it can make it jobs well.

People like to hype things unnecessarily as if they are very sure of it, when this news of bakkt came up, I asked some of my cryptocurrency friends to actually help me analyses how the bakkt could make changes to bitcoin world, but they could not really say much, all they know is that there is a believe that bakkt release will have effect on bitcoin, and I left them for them to really see for themselves.

If bakkt is going to have an effect on bitcoin, it would not be now but in future, they will really have to get more people that have need for their service to use their platform. Many of us have been singing praises of bakkt, but if you ask the majority of people here in this forum of how many of them have even visited the platform before, you will see that the percentage will be very low, so I don’t just follow people when they say things without analyzing it myself.

Saw this image also in bakkt.com. And for me as a crypto trader, I don't know anything about this Bakkt but, with simple apprehension or grasp on the chart, I can say that BAKKT played a big role on September's dump.

Bakkt is not responsible for this bitcoin dump. It is the whales which created the hype and then dump right before the start of the launch. This is the old tactics of whales to make the money and rest of the traders like us to lose the money and hope.

I am not forecasting or anticipating any pump in November but i do hope that bitcoin make a strong support level at 10,000$ and remain stable above 10K for some time and the gradually move up.

Sudden pumps are never long lasting !!!

I can clearly see your point regarding BAKKT. Thank you for this information. I just forgot whales being part of cryptocurrency. I know these people are just opportunists that will make money while stepping on others. Well, not blaming them for this but they are also traders just like us with different views. Although this could be a reason why people are leaving cryptocurrency with this 'whale trap.'

I think BAKKT will have a positive impact on the value of bitcoin, moreover Bakkt is a subsidiary of the Intercontinental Exchange, which is undoubtedly his success in the world of finance. although at this time we have not felt the effect, many say that bitcoin will go towards $20K,  ;D :o

As I have observed on this, that still a lot of BAKKT supporters are more expecting in it to make its price be increase. This might be the reason why just yesterday bitcoin price begun to increased again little by little in the market. But not so sure if this is because of BAKKT pump this November. I'm still watching the movement of price up to now to see what is going to the price of bitcoin.

BAKKT launch didn't create the pump everyone was eagerly waiting for. With soany delays and postponements, people gradually lost interest in it, that was why no sure succes as regards to Bitcoin price has been recorded from it. But on the other hand, I feel like it's going to be a slow and steady kind of pump. Let's see what the coming days will bring.

To be quite frankly the volume on Bakkt is not at all convincing, but anyway it is good that we have the infrastructure set in place for the institutional investors to pour their money into the markets in a regulated framework. From another point of view we are at a very important pivot in the market right now so depending if we break this level to the upside or not will set the trend for the next few months in my opinion

Hopefully Bitcoin has the power to break upside and give us all a nice Christmas!  ;D

Never heard of BAKKT until today. Kinda sounds like you are just trying to create a hype and nothing else. Just like those news articles I came across when googling BAKKT.
What if it doesn't get "pumped" to November? What you going to say then? BAKKT - the pump to December?
Just looking at graph and saying that the price is going to get pumped or is getting pumped isn't correct. You will need solid facts to support your claim.

Probably this post is for another Bakkt hype. Since there are number of people here who was speculating about the long term effect on Bakkt.

I think someone is making another reason for the people to be enthusiastic in accumulating Bitcoin again deliberately, because they are riding the current pump of the price today.

I've been a believer of Bakkt too, whenever I read news about Bakkt before it really felt that it can be a way to make BTC pump again but it did not when it is released, It may only be another hype but we will know in November. I will not be too excited regarding this since if it will give an impact it should happened already days before or after the released.

That has always been the case here. I can't remember a time where people on this forum or elsewhere with a bunch of coins in their portfolio to recommend people to not touch Bitcoin for a while.

I can understand that there is an incentive for people holding Bitcoin to keep shilling it during a bearish market, but recommending people to buy every single dip is just retarded in my opinion. One shouldn't tell anyone to do so.

I rather explain people that it might be better to wait for the price to bottom out first than to say go ahead and buy as many coins as you can. Shillers tend to do so by pointing at +$100k price points to tempt them to buy.

Well, I am still a non-believer kinda until I see on my own that I was wrong. I understand the potential of Bakkt and liked it all the way but since they launched their Volume was just disappointing which also shows me somehow the conservative art of thinking institutional investors have. I really hope this changes and Bakkt Volume explodes!

I do believe that Bakkt is a good platform offering a good way for institutional investors to get into the Bitcoin thing as easy as they can but there's  seem to be some objection with its Bitcoin-settled feature especially with those who do not want to deal with Bitcoin directly. But then again, it is not yet one month since its introduction so let's give this platform some time to prove itself. Maybe by 2020 we can already see how things are going and whether Bakkt can be able to survive the realities of the marketplace. We are now moving past Bakkt anyway and looking forward to the 2020 halving so hypes will soon be building on for that so much so that the recent ETF rejection was just muted and gone unnoticed.

Look like the hype will never stop.
Until there are people who are spreading the news then we will be seeing more pumps from this new coin.

It may have been affecting bitcoin for a little bit since some people are selling their bitcoin in exchange for Bakkt but will that be enough to see a large pump this November.
Half of them are also predicting bitcoin to go large before the end of the year.

And half are predicting that bitcoin will go on the $6k-$7k levels? So what does this mean? We can never really tell if Bakkt is going to really pump the market in November or it will push the price even more.

---

For sake of transparency though, and for those who wanted to hear some positive news about Bakkt:

https://twitter.com/Bakkt/status/1182299015142133762


So according to them, they have established a new trading record in about what two or more weeks? So there could be some good news to come by in the future.

^^ At least there's something to cheer about, LOL.

But it is still far cry from what everyone is expecting, like by this time hundreds if not thousands should be trading along that line right?

Or institutional and casual investors are not pulling their trigger after the much hype bakkt offerings up to this time? If yes what are there reasons? It is because they are afraid of manipulation?

Didn't we have a sell the Bakkt launch event? Even if the dump we witnessed wasn't related to Bakkt, the market has turned bearish a month or so before. It automatically translates into less demand.

Bitcoin and the broader crypto market only appeals to retail money when the prices go goes up. If the prices move sideways, or go down, money is more likely to be withdrawn from this market. It's largely fomo driven.

Look at the issuance of new stablecoins.... it has stagnated, which perfectly seems to confirm how retailers treat this market. Imagine what would happen when crypto stagnated for a full 12-24 month period. It will lose its shine.

It didn't happened because crypto investors are unwilling up to this time. Although there are some trading volumes going on as per report, it doesn't mean that we will suddenly see a drastic change, everything here is volatile.


We really don't know what's the reasoning behind, we are still speculating that institutional money has been flowing in the ecosystem for many years now prior to the Bakkt launch, so there could be manipulation behind as you have pointed out, but I think they are not that confident though with regards to the market conditions. It does look like bearish to me.

Who knows what will happen in November, I don't think like this, I think Bakkt has to go a long way to bring any impact on this platform, I think Bakkt has some very useful features and vision towards Bitcoin and its market but you need to prove first then you could get a chance to do anything, It's not too easy to make an impact on the price of Bitcoin, So far I know Bakkt has not done anything yet, But this Bakkt is doing with various platform for more promotional and acceptance of Bitcoin, I think it will take time to do implement anything regarding this issue. but don't expect too much from this platform at an early age. it may bring negative aspects also.

This news about BAKKT launching was hyped last year too before it was eventually postponed the same same scenario is playing out again when all sorts of media hype about it launching is taking over the crypto world I wouldn't be surprised if its postponed again the dust raised by it upcoming launching would settle down quickly bitcoin hodlers are primarily consigned with how its price gonna pump and nothing else.

There are no more hype about bakkt, media already forgot about it and crypto traders has moved since since the opening of their offering. Which means that nothing big is going to happen next month. If bitcoin did make a run next month, I don't think it is because of bakkt, there could be other significant news that will come along the way that will influence the price next month. I thought that it can boost the price, sadly, that's not what we've seen.

There is no volume up to now or at least that's not what everyone is expecting., and investors are no longer interested with it.

No one should be interested in it anymore as there has not been any growth at all during the days that they were fully operational.... isn't that the definition of a flop? Why not just call it a failure instead of hoping that it will pick up later?

Bakkt for today has generated 6 whole Bitcoins in volume, and that after the decent price action we had yesterday.... one would expect that it motivates traders to speculate for or against it, but nope, Bakkt is still doing absolutely nothing.

Ain't this the same to what happened with Waves.
Too much hyped and then a sudden fall.
It is not bad to be excited with something like this specially with decentralized tokens but bad things could happen in the long run.
I would rather make profits with this than stay and be invested for a long time.
Sooner or later they will be back with Bitcoin, Ethereum and stable coins.  ;D

I am not sure we will see some pump that time, everyone can make an speculation about Bakkt but when the moment it was launch, we never saw some pump which prior to the launch, there are some hype about the launch. This market now is getting more unpredictable, if any good things will happen then good but what the current situation presents us is the opportunity to buy at a very cheap price as whether its because or bakkt or something, bitcoin will soon pump whether this year or next year.

Very often, the media said that the launch of Bitcoin futures trading will improve the situation in the cryptocurrency market and the price of Bitcoin will definitely go up.  But now I suspect and perhaps understand that this news was most likely a manipulation, because when Bakkt was launched, Bitcoin prices fell sharply.  Perhaps this was another trap for those who would like to invest before the bull run.  And this was done in order to try to capitalize on price fluctuations thanks to information in the news.

I don't think Bakkt's presence has any effect on Bitcoin at all. see we will not be launched even if nothing happens, even the trade volume of bakkt is very small, even though before a lot of media said that when bakkt was launched bitcoin would go up high.

We don't know yet, and everything can happen in the crypto. And if bakkt can give more reaction to people, then I think bitcoin will have a chance to go up high. With the situation now, bitcoin still waiting for a good moment to increase, and even though the price is up and down every day, we will see bitcoin price will break the highest price. We have at least 8 days to go to the next month, and who knows, at the end of this month, bitcoin can slowly increase and break every high price. And in November, the price can have a real increase, and that will trigger the bull market to comes.

Bakkt is relevant. What happened was that people exaggerated their launch and overhyped it. Often times, When things are overhyped, They don't always live up to these hypes. But one thing I know for sure is that Bakkt would have its time and that it would be one of the big players for Bitcoin in the near future. Don't forget Bakkt was initially delayed. Many people got disappointed and I think that contributed to its first impressions. I'm keeping an eye on it. Great things ahead!

I don't know if this will help to boost the price value of bitcoin, if after the pump this November suddenly
change the price in the market, it means BAKKT is one of the reason for bitcoin price, but if not it means BAKKT
is useless to make bitcoin boost its price.

The hypes are everywhere and expectations come from the whole market is very high, since we do understand that whales are everywhere, this BAKKT thing attract many investors which is the perfect timing for whales to play with, chances that it will take some time before we will see the actual impact of BAKKT inside the market as whales still working on it for the best of their interest but who knows what would be the real impact of BAKKT after some months of existence. 

With current market conditions positive news about BAKKT is indeed quite interesting to the attention of many people, many of whom assume the fate of bitcoin depends on this BAKKT,
but I don't care about BAKKT, however the price of Bitcoin is determined by the chart, and I believe BAKKT is not the only reason for Bitcoin to be bullish.

True BAKKT will not affect the price of bitcoin, BAKKT is only an exchange that is full of controversy so the price of bitcoin will still follow the trend prices and market conditions, I predict bitcoin will rise in the next 4 weeks without the influence of BAKKT.

I think you are one of the people who want to make the price of bitcoin go up by spreading information like this, hopefully the information you provide is really valid because right now I'm preparing the bitcoin that I have for me to sell and making a withdrawal when the price goes up.