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I don't think that price fall has anything to do with Bakkt, I would say it's pure coincidence.
Although many expected just the opposite, that Bakkt will bring price rise. However there is no need to be worried or to panic, it's nothing unusual about this price correction, it's just part of volatility so don't look for conspiracy theories.
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I wouldn't say that European union is against Libra in general but it has certain concerns that needs to be clarified, what kind of impact could be expected. There are not all facts known about Libra and EU would like to know what is all about and what the regulation will be.
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Finally that someone realised that Bitcoin price drop is quite normal and that is part of volatility. It's just corrections and there is no need to develope some special theories about it.
But I'm still waiting panic posts about price crash and worried questions if to sell or not, if Bitcoin is dead this time and similar because some people never learn.
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Investment is much better because saving as the word goes which means to save money. So basically, you are just putting your own money aside for future or normally emergency purposes like when you get sick. While investments will give you returns and it keeps growing depending on what kind of investments that you have because that main example where your money grow is in banks.
Everyone mindset is very different in this market and a lot of people have the same ideas as you but some don't. I think that if the savings can invest in this market, you do not need to worry too much about the profit because Bitcoin is always a safe asset for all investors. In fact, if you want to use it for important issues, you can switch to Fiat at any time because this market has great liquidity. How come that Bitcoin is safe asset for investors? You have obviously forgotten about volatility, so you might get profit as well as you can lose. That is why it's very important to diversify investments and combination with saving is even better. That is actually the only way that you can be sure that you will have at least some back up funds. |
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As for now the price went down but I wouldn't connect that with Bakkt. It's usual correction that is triggered by something else.
I know that many hoped Bakkt will influence on price rise, in significant range even but that didn't happen and I don't think that is going to, can't see what would be the mechanism. So I guess many are disappointed.
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I'm not sure. At the begininig Bitcoin ATMs were very popular and in short period of time couple of them emerged in my country.
But these days people have more ways to get Bitcoins not to get out of the house so I think ATMs are losing popularity. I'm not saying we don't need them but I don't think they might influence addption significantly.
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It may happen, if the trade war between the United States and China escalates further. So far, both the sides have refused to give in and one of the consequences have been a 20% increase in the gold prices. The Americans should not chew more than what they could swallow. I have a feeling that Donald Trump is taking it a bit too far.
America is taking too much, many countries are fighting America today because of their government policies that require their local products to be global and used by anyone. so that foreign products outside of America are restricted from entering. thus affecting the American economic opponents. I think if the trade war is expanding, not just America vs China, then an economic crisis can occur. Trump has taken a very aggressive stance ever since he took office in 2016 (at least when compared to Obama). He is a businessman rather than career politician, and therefore knows the advantages and disadvantages of free-trade economy. However, I have a feeling that he acted too quickly without caring for the repercussions. What he has done is to drive China in to the hands of Russia and to permanently damage the Sino-US relations. That was a bad move and on llong term is bad for US. Trump is maybe a businessesma but to run a state this is not enough and recent issues clearly show that. Trade war will make more damage to US than to China or any other country and when this mega crysis comes I don't think that America will be strong enough to take it. |
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I think many are disappointed now. Expectations from Bakkt were big, many hoped for bull run but so far effect is just the opposite.
I'm not saying that current corrections is related to Bakkt but obviously positive effect didn't happen. But don't rush with too many negative conclusions, let's wait for a while to see how the situation will develope.
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I think it's misleading to claim that Google achieved quantum supremacy as IBM is also doing some quantum computers experiment of their own.
As far as bitcoin goes, it even they achieved to crack AES-256 bit encryption, I'm sure there will be a consensus to go to the next cryptographic hash function to protect bitcoin.
They don't care if it's misleading, for them promotion is only that natters. And many people will fall for that. But at this moment I don't think this will affect Bitcoin wallets, at least not from private owners but for exchanges this might be a different story. |
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Many people still don't use full opportunities of the market to buy Bitcoin. When the price goes down they start to panic and selling instead of buying, commenting that after the dip the pump will come. And that is because they don't have enough patience and often are oriented only on short term profit. I think it's good option to always have some free funds to invest because Bitcoin is still the most profitable on long term.
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I have the feeling that users have to high expectations from Bakkt but at the end they might get disappointed.
It's only the begininig but and it takes some time to see the effects but I don't think that will influence Bitcoin significantly. Still I wouldn't like to make conclusions at the moment, let's wait a while.
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I wonder how many times people have manipulated the crypto market as well? I mean here we are sitting on high horse talking about how financial Goliaths are doing this but we are here at small timers (180 billion market cap versus trillions of dollars in financial market) and we still have manipulation from the whales.
Sad part about it is that we do not have law enforcement on our side as well so people who did bad stuff at JPMorgan got jailed and found guilty but here in bitcoin world people who are wealthy and rich can do whatever they want and there is nothing that can stop them. The decentralized and unregulated approach of bitcoin does bring in amazing stuff but sometimes it does hurt itself as well, it is a price we have to pay but we should not point fingers to others in that case.
That is true, cryptocurrencies and crypto market isn't protected and regulated as classic financial system. But isn't that something that crypto users have chosen? Independency and decentralization and not to mention how many of them are actually against any kind of regulation. On the other hand if Bitcoin and crypto are so decentralized and independent how come that such manipulation is even possible? |
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I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.
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Such prediction is in the light of expectations that Bitcoin price will rise as the year goes to the end. Although there isn't any solid proof that end of the year brings price growth.
To my opinion Bitcoin will not reach 20000$ before 2020. This is a high jump and we would need a constant growth to achieve that but I don't think the market is ready.
I think that price will stay in current range, more or less, if tge price reaches 15000$ that will be a huge success.
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First of all Bitcoin is not a currency by default, so everything depends how you use it or how it's regulated.
Bitcoin is limited supply, it's not a part of any monetary system, it doesn't have the physical form, only digital, and it's highly volatile. These are to my opinion the main differences. And the way that world's finances are functioning you couldn't survive using only crypto.
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You don't necessary need banks to cash out the money from cryptocurrencies, there are some other ways.
But with saying that you adnitted in a way that we still can't live without banks or to be more precise without fiat money.
Sox banks will not disappear, they will continue to run their business. And even with or without cryptocurrencies people have in great deal lost trust in banks but they still use their services because they don't have much choice.
Cryptocurrency are not the full alternative for fiat money and banks.
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According to so many posts here it seems that many users have felt consequences of trading on their own skin.
The main problem with Bitcoin trading that might influence your health is stress. In some smaller amount it could be good and stimulate you but on longer term and if it's heavy it could really hurt you.
So, stress could be defined as a professional illness of many people involved in finances, including Bitcoin traders.
That is why one of the most important features for trader is to learn how to control emotions and level of stress.
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Bakkt will definetely bring something good to the Bitcoin market. Will it also increase the price it's yet to see. To my opinion that is possible but only on short term. It will not be the long term bull run.
Although I don't think Bakkt is a revolution, maybe just a step forward towards better Bitcoin acceptance and regulation.
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Bakkt would enable more institutional investors in Bitcoin market and push it towards broader regulation. At least that is the way I see it. As a consequence more adoption is expected and some also think that might increase the price.
But I don't have too big expectations and I will form entirely my opinion at the moment Bakkt comes into force, so next week much more should be more clear.
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Add also this one of the biggest financial company called Bakkt. Bakkt could be also helpful for Bitcoin adoption. They will launch on Monday. Lot of people waiting for it. On monday, lot of people will start to talk about Bitcoin. We are just starting.  Maybe the expectations of Bakkt are too big, I'm afraid that some might end disappointed. From price rise to adoption, these are the effects that some think Bakkt might influence but I'm very cautious regarding that. And I don't think they can influence for Bitcoin to become mainstream, it's not possible to my opinion. Still, let's wait and see for actual effects will be. |
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