Bakkt sets the official launch date, is it good for Bitcoin price?

[leader2704]

As you all know that Bakkt sets the official launch date for their service, but does it really affect the whole market? I do not think so, here is the reason why: More than 80% of Bitcoin in the world have already been mined and ONLY 2% of the bitcoin addresses hold over 80% of supply, most of them are early investors or exchanges, they are the one who really rule this game. Is it silly or too positive if we say that Wall Street guys who come later can affect the price?

[Wilhelm]

My gut feeling:

Bakkt like many other things (ETFs, ICOs, etc.) is a mirage.... it will never happen with official backing....
If it happens without official backing, it will be allowed to run for a short while and will get killed.

[arpon11]

My gut feeling:

Bakkt like many other things (ETFs, ICOs, etc.) is a mirage.... it will never happen with official backing....
If it happens without official backing, it will be allowed to run for a short while and will get killed.

In cryptocurrency we don’t needs to have “official backing”! Bitcoin investing should not be subject to regulatory approval because we do know that governments will never approve what she is not going to benefits from. Launching of Bakkt by next month is definitely going to impact bitcoin’s pricing positively . I can see that since the day that this news hit the airwaves, bitcoin has been showing a sign of bullish trending. By next 23 , when it is fully launch it might go over $14,000 the last high.

[gentlemand]

My gut feeling:

Bakkt like many other things (ETFs, ICOs, etc.) is a mirage.... it will never happen with official backing....
If it happens without official backing, it will be allowed to run for a short while and will get killed.

They now have the regulation in place. It's operated by one of the world's biggest finance operations. It would not launch at all without green lights all the way. It's not some one page website morons.

I don't think it'll do anything for the price the moment it launches. It counts when mania hits. The more legit options there are the more money can enter. Obviously the opposite applies too.

[RealMalatesta]

It won't even affect its own that much let alone the whole bitcoin market. I think Bakkt was good as it is on the middle where they are not doing any bitcoin movements but they are still interested in doing it, it created some sort of hype that "Bakkt going into bitcoin" and that was a good level.

Now, that they will get into bitcoin it will lose that hype because anyone who wants to get in will get in via there and that would result with possible a let down that not many people will join and when people see it is not as big of a deal as it made out to be the price would be damaged or at least not affected at all. Hence I believe this is not even a good move for bitcoins price and even maybe a risky one, that is why I am not looking forward to it and hope they do very very well to compensate for it.

[Wilhelm]

My gut feeling:

Bakkt like many other things (ETFs, ICOs, etc.) is a mirage.... it will never happen with official backing....
If it happens without official backing, it will be allowed to run for a short while and will get killed.

In cryptocurrency we don’t needs to have “official backing”! Bitcoin investing should not be subject to regulatory approval because we do know that governments will never approve what she is not going to benefits from. Launching of Bakkt by next month is definitely going to impact bitcoin’s pricing positively . I can see that since the day that this news hit the airwaves, bitcoin has been showing a sign of bullish trending. By next 23 , when it is fully launch it might go over $14,000 the last high.

Exactly what I mean. Bakkt will get killed off it doesn't benefit the government or economy.
I think it will not get all the green lights needed to start.

[gentlemand]

Now, that they will get into bitcoin it will lose that hype because anyone who wants to get in will get in via there and that would result with possible a let down that not many people will join and when people see it is not as big of a deal as it made out to be the price would be damaged or at least not affected at all. Hence I believe this is not even a good move for bitcoins price and even maybe a risky one, that is why I am not looking forward to it and hope they do very very well to compensate for it.

I think it's been drawn out for so long that it's had little to no effect on the rise from the bottom. Ask most people in Bitcoinland and they won't even know what a future is, let alone what physical settlement means.

I fully expect it to launch without a squeak. At some point, maybe several years down the line, it'll start roaring and be impossible to miss.

[1Referee]

Exactly what I mean. Bakkt will get killed off it doesn't benefit the government or economy.
I think it will not get all the green lights needed to start.

How will it not benefit the government?

The coins Bakkt stores on behalf of the investors using their platform are confiscated easily when the government orders them to do so. That's a pretty damn strong incentive to have Bakkt become operational and grow larger and larger. The same applies to Coinbase. These institutions will end up holding a significant portion of the total supply (Coinbase already does).

Taxation-wise it's also a great tool for the government because they know exactly who to prosecute. These centralized platforms grant governments more control than ever before.

[bittraffic]

Now, that they will get into bitcoin it will lose that hype because anyone who wants to get in will get in via there and that would result with possible a let down that not many people will join and when people see it is not as big of a deal as it made out to be the price would be damaged or at least not affected at all. Hence I believe this is not even a good move for bitcoins price and even maybe a risky one, that is why I am not looking forward to it and hope they do very very well to compensate for it.

I think it's been drawn out for so long that it's had little to no effect on the rise from the bottom. Ask most people in Bitcoinland and they won't even know what a future is, let alone what physical settlement means.

I fully expect it to launch without a squeak. At some point, maybe several years down the line, it'll start roaring and be impossible to miss.

Yay! Sad that it had to take several years.

When Bakt was  first announced it affect so much of the price, the delay made it very hyped but launching not affecting the price is just disappointing. They disappointed us so much that people are fed up and won't expecting anything anymore when they finally launch.

[javadsalehi]

Any thing which can make people more interested in bitcoin, increases demand and it can affect the price positively. In the short term, I expect such a effect on price. Bakkt will surely cause some new investors to be attracted in bitcoin. But I am not sure about the long term. Because, I am nit certain about the future and treat of United States government with Bakkt. We don't know how they have been compromised.