Bitcoin Forum

How many of you guys feel disappointed about how bakkt did nothing to crypto market price but shrink it down to where it is today? i am one of those who think bakkt will have huge impact on crypto market since 2018 so here we are today and things went sideways

I think that people made a mistake of expecting Bakkt to be the savior of crypto space, the raiser of prices, the mother of dragons, and what not. It is just a futures exchange that will maybe, MAYBE, attract institutional investors. However, it will take time for them to become comfortable with crypto, even through Bakkt. None of it will happen at once, and Bakkt is just a small step in the right direction. People overhyped it and when nothing happened, the disappointment knocked the prices down. That doesn't make Bakkt bad. Things will calm down, just give it some more time.

Wasn't it the bakkt news back early this year that caused the rally from $3K to more than $12K? That's I'm getting from other people's feedback. I guess you can call what happened here as "selling the news". When people like you are expecting are holding and expecting for a pump, experienced traders are getting to ready to capitalize and dump.

I am expecting positive outcome about Bakkt but all we've seen is all against to what we have thought of. But don't make a conclusion that it's really Bakkt that made this dump. There are other factors that made this bloody days again.
Start doing something to counter this situation through making yourself a favor by buying at discounted prices whether it's for bitcoin and few known altcoins.

The most uncomplicated answer to similar questions is the market trading law from the experienced traders: Buy the rumors and sell the news! The market participants decided how to accept the welcome party for the institutional money and the majority of the crypto traders decided to sell the news before the new experienced institutional traders attempt to do it. The institutional money never leaves the market unless there are other good opportunities on other financial markets, remembering this factor will clear the other questions from our mind while thinking about the cause of the last price downfall from $10500 to the $7800.

I also used to think that BAKKT would have a positive impact on the price of Bitcoin but the reality was not as expected. The small number of transactions at BAKKT has disappointed investors and maybe this has caused the price of bitcoin to fall by more than 20%.

Bakkt is just a beginning. Why people are already concluding this as disappointment? people take sometime for think and do the adaptations. patience is key here. We just have to wait and watch.

Its too early to blame bakkt and think they have not done anything, we have all forgotten in a hurry that some exchanges were hacked and Cryptos were stolen, that alone is a big set back when they dump it.

Don't fall it, some people are in the shadows pulling the strings, whales are the ones manipulating the market presently,  many will rush to sell off their bitcoin and when that is done whales will drive the price back up again, you will end up losing

So Bakkt's arrival in the crypto world only became the price of bitcoin and altcoin fell. honestly I do not understand what Bakkt is.

I agree, it just a disappointment that the supposedly event that will bring the market and push the price, the opposite happened.

But on the bright side, why don't we just take this opportunity to get more BTC's? The price is really cheap at the moment and maybe we won't see this price in the future.

So stop making excuses and blame bakkt today, maybe in the coming days we can see some semblance of a recovery, but at this point, better stack up our wallet with cheap coins.

Bakkt was a huge hope for me and I thought if accredited investors would finally get access to Bitcoin, trading volumes will exceed all expectations, but 20 BTC in total represent the weakness of crypto industry at the moment.

I never expected anything from bakkt at all, its a shame that too many people believed that bakkt is the answer to crypto adoption well i am not saying this is impossible its just that the hype for bakkt is way overestimated, if bakkt is going to have impact on crypto its something that can't  be rushed

You got it wrong bakkt function in crypto is to open its door to the people who have not know digital assets
they help in promoting crypto currency to the world, the reason why the market goes down is not bakkt fault
its really what the whales are doing to get a better price to gain more profit , if you have not heard the news
a anonymous holder sold one billion worth of bitcoin to an exchange, what happen? the people have panic
because the price goes down, this is what they want panic and fear to everyone , so others will follow selling
all of their bitcoins , now the price is down during that time they already bought back in the lower price
and then i think they will do some manipulation and the price will go up again, its happening over and over again
you see they are playing people in their hands ,
in 2017 when the price goes to 20k usd, they sold again a lot of bitcoin the price goes down to $3K but lots of us bought
$20k the scenario is happening again, its not bakkt fault

Me too, i have been getting a big surprise after seen the fact if bakkt of bitcoin gets around 7 bitcoin as a daily trade volume. Those are pumping bitcoin hoping a lot to see a huge volume that can represent the demand for bitcoin. It looks like the majority of them are also feeling the same and it's very sad to see some people have bought bitcoin when it was more than 10k.
But this is the risk that we must take it.
Crypto is not always about to be accepted easily by other communities.

Last time a futures market opened BTC got rekt, so why do you think it would be any different with Bakkt?

I'm not disappointed at all. Actually I wasn't expecting anything at all from bakkt launch. So, Bitcoin price went down, It'll go back up, Nothing to be worried about. This is a great chance to load more BTC before It's moons, Halving is not far away!

This is a great opportunity for you to buy BTC cheaply because the current market is in a correction phase and will definitely be good for investing if you invest right now. I have good faith in this market and will consider investing in top coins because those investments will be of great help to me in the near future. Currently BTC price is maintained at $8000 but by the end of this year things will be different and this coin will return $10,000 again.

Bakkt is also an exchange , since bitcoin is not widely known to the world ,
they want to attract investors and people to use it and maybe in the future will be legally using it as money
although some is already using it but its not legal in some countries and needs to be legalized by the government

One thing was expected from bakkt, this is the price to the moon. But some traders also earn on the fall, so it was beneficial to create a hype around bakkt to earn but not everyone ... ::)

Whales perfectly knows how to work against the market anticipation. There's no perfect timing for them as they are always benefiting from wherever they place their money. Bakkt expectations coming from many people might be played by those bag holders, shaking the market to fall and lead weak investors to sell everything that they've got, and afterwards buying cheap coins and hype it back to earn even more. This is how wise the whales played against the majority who expects certain trend.

Why would I be disappointed? I'm not an institutional investor and I never believed that they could be responsible for bringing the price of BTC up. I think it's the fault of speculators listening to people like Tom Lee who said big money is coming into crypto just because of Bakkt. It's so silly, and no one should ever have believed in it.

i also thinking why btc dump after bakki start its operations.i search many article for find reason for this hard dump.but i newer get clear ides why this dump happened so i think some social impact on this dump like china usa trade war and some whale activity or some fack news

Many waited for the launch of the Bakkt platform and believed that the launch of this platform would launch the crypto market to the moon, but you saw the opposite. Based on the current situation, we can conclude that good news now does not play a role and does not positively affect the market. But still, I believe that this is a common market manipulation, and someone decided to buy a little more.

to tell you frankly, I am not disappoint for what happened after the launched of Bakkt because I did not expect anything from. Maybe most of the member or community in crypto business they expect big from it. But we don't know behind the reason  why all of these happens. Just all I know now is that this the very good timing for us to buy those dumped potential coins in the market then hold, hold, hold. Because I knew there's a good will happen in the future.

If we can detach cryptocurrency and its survival from events and news's, the price will be more stable. If value can be placed on cryptocurrency as it should be not everything is defined by news we've let the world think cryptocurrency is a joke as a result of news and events actions.

I tried to find out about the bakkt in coinmarketcap, it turns out their data is not yet displayed there, and I also found information there, if the launch will be done in September 2019, but until now the bakkt exchange has not been clearly seen on coinmarketcap, even though the month September is about to end.

I am not disappointed in Bakkt instead I am quite happy that Bakkt had launched and this unnnecessary rumors and speculation about bitcoin is a scam thing somehow got cleared.  I am also one of those who think that Bakkt will have a positive effect on the market but it seems it is not enough to counter the negative effect of the current sell-off.  Though I will not lose hope that easily, it is not that Bakkt will buy lots of Bitcoin on the market on its launch since I believe they had been accumulating months before their opening, the thing is the possible institutions that they will get on their operations. 

And what did you expect? I expected it because institutional investors are already in the market thanks to CBOE and CME futures and Coinbase Pro. Also there are many other similiar big funds like Bakkt for these investors.  :)

yes, many people have hoped that bakkt pushes up the prices, but the opposite has happened.
there you see again, the market reacts as he wants, no matter if good or bad news.

Yes, the market decline coincided with the opening of Bakkt trading, but it is too early to draw conclusions, market growth is still observed if you look from the beginning of the year.

That is the resulf of big expectation. We thought that smart money will save us and bring to the moon.
Reality? Smart money are not yet interested into cryptocurrencies, they need regulations and the feeling confident.

This is a good thing. When it comes to investing you are suppose to buy the rumors, sell the news.  When any news comes out about crypto the price always drops. The whales force the market down to fill their bags even more. Then after the crash the prices always skyrocket even higher then they were before the crash.

Take block reward halvings for instance, I will use LTC as an example. When the latest LTC halving happened, The price of one LTC dropped almost $30. It is perfectly normal and is actually a quite good thing. You would think because the block reward is only half the price would go up and it will all in due time. Just because the reward halves doesn't mean the coin will double.

Right now you can buy 1BTC for roughly $2500 cheaper then you could 1 week ago. Fill your bags, Who knows if you will ever see Bitcoin below 10k ever again. A pump is coming and it is coming quick. They are dragging the market down because everyone thinks its going to go up then when it crashes 2k everyone panic sales which causes the market to crash more. Just hold long term. Find another hobby, Check back in a month or 2 then you will see what the launching of Bakkt really did to the market!

No reason for that. If many people are expecting the same thing probably the big investors will do a different move. People should stop expecting swings from the news and stick to fundamentals. FOMO/FUD patterns will just lead you to bankruptcy  :P

I am not feeling disappointed, the rumors were bought back when the news spread in the market. The speculators blame the other speculators for the market manipulation, so ironic. Bakkt event was expected a months ago but it was delayed several times intentionally.  Crypto whales just bought the cheap BTC while other traders were selling their buy positions to whale's market orders. So many speculations are going around the crypto markets and the biggest disadvantage of the decentralization is the lack of regulation in such situations.

Disappointment is related to unrealistic expectations. Bakkt effect on the market will be visible slowly, on long term.

Right now CME, BitMex and probably others too are the strong players. We don't know exactly why the price has fallen this much, hence we don't know how the price will move in the near future. However, don't count much on Bakkt to "save" the price. Not yet.

And also keep in mind that some months ago the price was 3-4k, so the current 8k clearly should not be seen as a disappointment.

Exactly this is my point. 

Don't expect any "big" influence from any exchange or news. Whales and other ones are and will always manipulate the price as they want. So don't see this as a disappointment, i will surely make impact on price eventually, but slower is healthier.    8)

Even before the Bakkt launch and the porported 1m btc move, I had an open mind knowing its all about the whales game. Once things settle down a bit, prices will pick up and we are back to where we should with gradual progress made towards adoption as usual

I don't blame the market crash to BAKKT, crypto enthusiasts put so much hope on its launch which isn't supposed to be that way. There are different assumptions to the cause of the current market crash, not only about BAKKT.  Oh yes, I actually thought BAKKT's launch will cause a market uptrend due to the hype, but we shouldn't always put blames.

I think things like bakkt cannot have instant effect on the market they are more of longterm projects as they will introduce their platform and services to more and more people and institutions more and more will buy btc through them so we can say it will have slow and steady effect, regarding the recent crash i think that techniclly it was on the cards and bakkt disappointment just added to it which helped market collapse quickly but im optimistic that market will recover in coming weeks.

The recent market crash is not happened due to the BAKKT news, the speculations are strong for the next move of the Bitcoin price. I am disappointed too but there is nothing left to do. The market volume decreased a lot since the middle months of 2018 and the speculations are stronger than ever due to the halving expectations for the next year in my humble opinion.

We should not really expect a big miracle jump that will happen because of bakkt. If they will have an impact, it might be slow and steady effect as bigcash2011 said. Bitcoin has been so long here already that I doubt it will not recover its value. It is better to have a slow increase later on with good reasons rather than sudden jump but can't sustain the price level. It is not only the BAKKT situation that might have the effect on this week's price. There's more than meets the eye here.

That is really disappointing cause most of us are expecting for pumps rather than to see the market drops. I believe there is no market manipulation around but this, it looks like there is something behind (whales). For how many weeks that we've been in the stable at the range of $10k-$11k but suddenly it crashed which nobody is expecting to happen cause we are looking for the bull run this year and we are almost started the 4th quarter with carrying positive hope. But somehow, all the expectation and speculations we looked for had vanished in just a week.

On the contrary I haven't seen what you saw as disappointment as Bakkt launched their platform. Although the impact is not yet felt doesn't mean there will not be a positive impact for the entire market of cryptocurrency. Looking at the first time they announced their launch back in 2018, the market actually experienced positive impact, so, this made many to think: that it has not affected the price like it does in the past. Without iota of doubt, the impact will come but we have to wait for it to happen. We should remember that; they bought some qualities of bitcoin after their first announcement in 2018 and that actually affected the price, but now ready for business.

Never expect much from Bakkt exchange because it has it own potentials to boost the world of cryptocurrency. Not seeing anything now after the launched doesn't give me a serious thought. This Bakkt just helped the industry with the possibility of having more higher numbers of institutional investors into cryptocurrency in the nearest future, so, why worry when the future is bright buddy.

A proper analysis or critical look at its proposition, would have given one an understanding that it is just being used by the wall street investors. This might be how the market will continue to be manipulated, except we all wise up to know what the reality is and how crypto operate.

that's how the speculation scenario influences market movements. expectations that do not match reality make many people disappointed, especially many big names and influential people who support bakkt. in my opinion, this influence takes a long time. does not necessarily change the price of bitcoin, proceed. the mass adoption of bitcoin in various aspects of real life is certainly very influential but it also requires a long process.

I'm also quite disappointed with Bakkt when their volume only has a few BTC per day. and that is why people are disappointed and the market collapsed in the past few days

Im also thinking bakkt will somehow give a positive impact to crypto as a whole but it didnt happen.

Well thats how it is lets just accept how everything turn out because crypto market condition is just temporary thus dont feel bad because there's still more to look forward.

Time without number; Bakkt has done nothing to the current situation of bitcoin price, if you ask me per se. Baktt launch first announcement help the price to shoot, if many will still remember but, the current launched they did few days ago is yet to be seen as a catalyst to the cryptocurrency world in general, this will happen on a long term, so, let's wait for the right time. Remember that, Bitcoin has enemies who can go extra mind to distort the general well being of the cryptocurrency world. Bakkt has opened a door for more potential investors into the system either institutionally or individually, so, let wait for sometimes before complain.

Totally agree with you.
People were thinking that institutional players can buy BTC only with BAKKT.
And they were wrong. Interested institutional players already in the game and they are playing good.
Buy BTC from exchange or OC, sell the BTC, cause fear and buy BTC back from BAKKT with a lower price.
I hope in long term there will be positive effects of BAKKT and we will see BTC where it deserved to be.

I am also very disappointed with the bakkt. Wait for a very long time but until it appears, nothing too special happens. Even the volume is only 1BTC per day

I think Bakkt is one of the hopes for the recovery of the crypto market, but this is not happening. I have been waiting for that in 2018 until now they are also bullshit and there are many reasons including the Bakkt delay.

Let's not talk about be disappointed or at least not to expect something big to happen overnight. I know it's sad to see the price going on a nosedive below $8k, it is what is it, and no one to blame here expect us people who put to much on this so called bitcoin future offering contract that bakkt is opening and touted this to be the next catalyst for a bull-run.

Just get over with it, and I'm sure you will feel better and just wait in the next couple of days and see if the price of bitcoin could recover in the five digits again.

yup! we don't need to be disappointed in Bakkt and we don't need to blame them. as you say "don't expect big things to happen overnight". we must wait, indeed the market has not shown development for a long time.

but i think we have to wait even longer. i think, the market will really recover in the near future.

Bakkt was only launched a few days ago and when it was launched it turned out that market sentiment was not as positive as expected.

But I still believe that bakkt can increase the price of bitcoin it's just that it takes time for bakkt users to feel that this product is indeed good.

I am sure that after a month, when users feel the product is good, the price of bitcoin will rise.
Just wait.

I still think that BAKKT will have a very good impact on this market. It's too early to draw any conclusions. We've all seen huge transactions happen recently. This means that a very large amount of money is contributed to this project. I propose to wait until the end of this year and then draw conclusions.

BAKKT - this is only a deception, he was like a flag for ordinary people that with the advent Bakkt we fly to the moon. That did not happen, because it could not be, large investors have to crypto market and the arrival of new does not depend on the discovery of some Bakkt.

Since BAKKT theme has been repeated for a long time, it has lost ability to influence. Personally I was expecting such an outcome and it was.
On the other hand BAKKT was created, but they did not meet what was expected. I think that was what they wanted to do in advance because the price increase would disturb elders.

Getting over it would be the perfect terms from this disappointment that brought by this anticipated game changer from this market, from how the investors expectations it's totally turned to the other side. There's a big need of being patience allowing this business to progress and bring good results after some time.
Bakkt will proceed accordingly, in time the presence of this exchange will bring more people to adopt Bitcoin as another alternative transacting online.

People were expecting that Bakkt will give institutional investors a safer platform to come to crypto. Anyone who was thinking that safety was the reason something was keeping institutional investors away from crypto, then sorry that was a bizarre assumption . Institutional investors are involved in all kinds of OTC trades and illegal trading activities. They don't require such platforms, they create their own. Thus, such underwhelming response was more than expected. But retail investors thought otherwise and that brought a slump. This will correct itself in a few days.

coincided with the start of the bakkt it turned out that the price of crypto plunged far. I just thought whether this moment was right when we were waiting for the opening moment that it turned out that actually the price of crypto had decreased quite sharply. even the good news had no effect. Is that true  :D

Give them time, institutional investors need to be informed about this opportunity and the market sentiment is not positive for any new investments.

This is my perspective too, institutional investors will need time from my view. Like someone said, they have already impacted the price when BAKKT first showed up on last year. Now it is open so.. patience and hype will be created among them.

disappointment because what ?
because no people using it ?
oh come on bro, it's even opened a few days ago.
Physically settled Bitcoin futures may be fundamentally more useful than cash-settled contracts to key market participants.
experienced investors certainly know that.
aslo, bad situation 1 day before bakkt launched make some fear on market.

I did not hope for Bakt because I noticed that when everyone is waiting for something it does not happen and it becomes only worse. This time everyone was waiting for a big increase in prices, and in the end, the price collapsed.

I think what happened was that BAKKT was way overhyped. I could remember some people were predicting $30K to $50ak prices for Bitcoin. The first disappointment came after It was initially delayed. I have a feeling that if it was released at that time – Without the delay, The results would be enough to write home about it. But all hope isn't lost. Let's take a chill pill and give them time. Most times, Good things don't come easy.

Maybe many of us are disappointed after BAKKT is far below expectations but in my opinion BAKKT is not the reason for the price of bitcoin to fall. Maybe in the beginning BAKKT was disappointing but it could be that in the next few months BAKKT could boost bitcoin transactions and make the price of bitcoin rise again

That was because, after BAKKT launch, people are not predicting and doesn't ready to see the price is down even down to the lower price.
But if they prepare for the worst thing, I think they will not disappointing too long and will realize that is what happens in the market.
We cannot depend on BAKKT to boost the price, and we still have time to see the price will increases.
There is no point to feel disappointed about something too long because that will waste our time and we cannot get the benefits from the situations.

I'm not going to discuss the fail or success of Bakkt, It's not the right time to judge them because they haven't got enough time to prove themselves, it requires time I think, Bakkt has some tremendous ideas in order to build a future digital asset infrastructure especially Bitcoin and cryptocurrency. It will enable the security of the storage which is very essential for the crypto market, this platform is going to launch a new standard in digital asset custody by leveraging the cybersecurity tools on which leading global exchanges, also Bakkt has a plan to create a partnership with some heavyweight exchange where people can get access to secure payment system for both Marchant and Consumer. Not only that but also Bakkt is going to build up a platform where Bitcoin will be used as a payment system, I mean Bitcoin will get a large platform as conventional money. so let's talk about their success after a couple of Months about Bakkt's success or failure.

As I see many here on the forum they still look positively on BAKKT after its release even though the price of bitcoin has soared that it is also the cause of the collapse of potential altcoins in the market. But even so many are glad that the collapse of the market has been a good opportunity for them to buy potential coins that they could not buy in huge quantities before now that they can afford to hold onto what they are sure I am.

Because they know that there is no big reason why BTC should collapse, Bakkt launch is a great achievement this year, therefore we should see some uptrend. Think that this price downtrend is just temporary, BTC were able to hold to $8k before it starts to dump now and only trading at $7800, but like I said this is just temporary as I've seen this kind of situation many times before, and I always see how BTC recovers.

I believe Bakkt will be good addition to crypto-market. The news (https://www.coincurb.com/news/the-disappointing-launch-of-bakkt-futures/) are not that goods. But we should not get disappointed lets wait for sometime might market get recover.

Never like that; Bakkt first announcement on their launch influence the entire market and we all saw the positive movement of crypto prices, before they postponed their launch. At this junction they bought some good handful digital currency but now, they are ready for the real business of trading and not to hype prices.
Let just wait a  little because things will change systemically in our favor. Few weeks from now will probably show the difference, let wait.

In cryptocurrency, we are closing our position after we are hearing news and creating our position once we hear a rumor. This method works fine even until now,
just look at Bakkt. The first time we were hearing it, the market surged and after Bitcoin future listed there, the price has plummeted.
do not hope too much the price will recover, because it is very clear that we are going to see the dip soon.
unless we hear something new and it is comparable to Bakkt. Or else we are just going straight to the bottom just like CME listing before.

I think we've been fooling ourselves for a long time.The price of bitcoin has always risen at the most unexpected moments.There were a lot of fuds before.(sec, China inhibitions, jp morgan)but bitcoin was not affected by them.Likewise, well-known developments do not affect the price of bitcoin...(BAKKT).All we have to do is use bitcoin as a currency and trust it.

not only you but I also have the same feelings and even other crypto communities. we think Bakkt is one way to recover the current situation of the cryptoqurrency market, but the fact is not what we expected. I have been waiting from 2018 about the latest Bakkt news but in the year I was disappointed with their bullshit.

Of course, I was very disappointed when I saw trading volume in bakkt, because we had been waiting for bakkt to open for a very long time and believed that with the opening of bakkt, the cryptocurrency market could give at least some growth, but nothing good happened with the cryptocurrency market and it only got worse, so the opening of bakkt was simply in vain, so we should wait for the growth of the cryptocurrency market and maybe then more investors will work with bakkt.

BTc will soon overcome the mistakes it has made.  Actually Bakkt has caused heavy market volatility but this is only the beginning of it.  Bakkt will return in the near future in the hope that it will make a major contribution to the market.

Everything will be changed. Bakkt is new, and even the fact of its launch is a revolution already. With its help, Bitcoin will become more popular, and as a result, the price for the main cryptocurrency will start growing again. All we can do not is not to blame Bakkt and the team but wait for the first positive results of its work. BTC soon will be more popular than gold with Bakkt.

Bakkt only just started. Let's give them time to girl the infrastructure for trading cryptocurrencies, and hopefully it will proliferate into something much bigger as such that we hoped. Well even if it doesn't, then maybe it will eventually after some years. We should look at the long-term, instead of looking at the short-term. The future of Bitcoin is bright!

If Bakkt should fail in adding value to Bitcoin, how then should we believe or handle bitcoin halving?
Some people will still see it as a privilege to dispose off what they are holding and buy at low price.
If both should fail, there might not also be bull run.

Bakkt influence on the price were priced in already 2 years ago
thats how smart money works..
you should not expect for a single event to skyrocket the price
its not how it works
they usually sell on the news

Failed! Bakkt has no impact at all on the cryptocurrency. The news that I waited for almost 6 months about Bakkt, just a good dream. I did not see their impact. Investors know that bakkt is not something that can change the crypto space. Accumulation has long happened at $4,500.

Crypto prices are highly influenced by small things. Bakkt itself is not a huge issue and they won't have a long lasting effect on crypto. They are the pioneer of new ideas. We should promote all of these ideas to know what suits better. Though last drop was linked to Bakkt, the market rapidly corrected itself and is now back on track. Bakkt is here and we are ready for more of those experiments.