Bitcoin Forum

Bakkt, the Bitcoin futures exchange backed by the owners of the New York Stock Exchange, today hit a new all-time high in trading volume.

At the moment, 1,131 futures contracts have been traded, with the last traded price set at $8,622 per contract. Together, those contracts represent approximately $9.7 million of trading capital. The previous all-time high record, set earlier this week on Wednesday, was for 640 contracts.   

Based on these figures, the unofficial Bakkt volume bot estimated that 2,095 monthly contracts, each consisting of 1 BTC, would change hands by the day’s end.   

This week has witnessed multiple sharp spikes in Bakkt’s trading volumes. For example, Wednesday’s bump in volumes represented a 653 percent increase in volumes. They have also coincided with an increase in the contract’s price.

When it began trading in September, each monthly futures contract was worth $9,965. But a cold reception from investors meant a steady decline in its prices, with a bottoming out this past Wednesday at $7,452. The trading volume spike this morning has also resulted in a corresponding increase in contract prices by approximately 18 percent.

Why did Bakkt volumes spike?

As with most things related to cryptocurrency, there are no clear explanations for the amplification in volumes.

The Chinese premiere’s positive remarks about blockchain tech are said to have contributed to a jump in Bitcoin prices this morning. Typically, futures prices are harbingers of prices in spot markets. In this case, however, both markets seem to have moved in tandem.

Another possible reason could be traders moving funds between derivatives markets around the world to hedge their positions. For example, a trader might purchase futures at Bakkt to mitigate risk in a similar position elsewhere. Again, futures volumes at other markets, including those at Binance, seem to be moving in concert with Bakkt volumes.

Whatever the reason, the increase in trading volumes at Bakkt bode well

for its options product, due on December 9. Volatility in underlying futures markets for options is an opportunity for traders to make money and contributes to their popularity.

Sa totoo lang ang target ko ay $9200 to $9500 lang ngunit umabot ito sa  10k now, dapat magco consolidate pa sana tayo, ingat pa rin tayo mga paps, worst case nito baka biglang mag pull back. Kung ako ang tatanungin, much better mag convert na ngayon at huwag na mag greedy pa.

Dahil kaya ito sa US-China tradewar? naghahanap kaya yung mga iba ng alternative investment dahil sinasabi din nga ibang prominent investors eh babagsak daw ang US economy dahil ang laki daw ng debts.

Ito ba ang dahilan bakit nag pump ang market now?or kaya sya tumaas dahil nag pump ang market?we almost hit  10$k ulit kanina dahil pumalo na tayo mg $9,800 pero bumaba ulit sa $9,500 but anyway di naman ako ganon ka dismayado sa BAKKT start up kasi normal naman talaga yan. Masyado lang na sensualize  ang launch kaya maraming d maganda reaksyon

Sa totoo lang ang target ko ay $9200 to $9500 lang ngunit umabot ito sa  10k now, dapat magco consolidate pa sana tayo, ingat pa rin tayo mga paps, worst case nito baka biglang mag pull back. Kung ako ang tatanungin, much better mag convert na ngayon at huwag na mag greedy pa.

Talagang kailangan lang pala sila bigyan ng sapat na Oras

Ito ata ang dahilan kung bakit sobrang taas ng presyo ngayon eh. Kagabi mga 2am, nasa $8,000 tapos ngayong pag-gising ko nasa $10,000 na. Nagulat ako kasi ang ingay ng notification ng Phone ko sa dahil sa movement price ng Bitcoin haha.

Kayo mga kabayan, ano satingin nyo ang dahilan? Kasi baka hindi ito normal growth kasi sobrang bilis ng pag-angat natin.

Dahil kaya ito sa US-China tradewar? naghahanap kaya yung mga iba ng alternative investment dahil sinasabi din nga ibang prominent investors eh babagsak daw ang US economy dahil ang laki daw ng debts.

Parang nabaliktad na ata ang mundo sa ngayun, si US na tuloy may debt at sa China pa. Posible naman isa yan sa mga dahilan pero hindi pa natin tukoy kung may nag manipula ba o panibagong trap na naman ito. Malalaman di natin yan sa pagdating nga takdang oras, sa ngayun limasin muna natin ang mataas na presyo pansamantala kahit medyo nag fluctuate to within $9k - $10k. Although may contribution ang Bakkt sa pagtaas ng presyo, malaki parin posibling epekto pag maraming mag adopt ng bitcoin sa China.

Para sa akin may malaking dulot talaga ang Bakkt sa crypto, katulad nalang ng nangyari ngayon na biglang bumangon ang bitcoin kahit na marami ang nagsasabi na papunta na ito sa $6000. siguro sa mga susunod na taon ay mas makikita pa natin ang epekto ng Bakkt dahil halos kakasimula palang naman nila pero may impact na agad. madami man ang na-dismaya nung una panigurado mababawi din yan kapag umahon ng tuloy-tuloy ang market.

Dahil kaya ito sa US-China tradewar? naghahanap kaya yung mga iba ng alternative investment dahil sinasabi din nga ibang prominent investors eh babagsak daw ang US economy dahil ang laki daw ng debts.

kung susunod na taon ang pag uusapan hindi na kailangan ng BAKKT or ano mang pahayag ni president Xi ng China dahil paparating na ang Halving s May 2020 and this is the most awaited moment ng mga Bitcoiners and altcoiners siyempre dahil napakataas ng expectation dito at madaming mga Holders ang umaasa na makakapag cash out sa panahong ito.

Mas maganda pa rin na may kasabay na great news ang halving ni Bitcoin para maoptimise ang mangyayaring hype nito sa market at magkaroon ng FOMO. 

Bakkt Volume Bot
‏ @BakktBot
5h5 hours ago

Daily summary of Friday's Bakkt Bitcoin Monthly Futures:

📈 Traded contracts: 2728 ($20.30 million, +66%)  (New ATH 🚀)
🚀 All time high: 2728 (11/22/2019)
💰 Open interest: $1.75 million (+29%)

O n December 9, Bakkt will launch the first regulated options contract for bitcoin futures. We’re committed to bringing trust and utility to digital assets and the options contract is an example of the many products we’re developing for regulated markets. The Bakkt Bitcoin Options contract will be based on the benchmark Bakkt Monthly Bitcoin Futures contract and represents another important step in developing this asset class for institutional investors, their customers and investors.