Bakkt

[Hueristic]

To many people are in BTC only for the dollar just as gentlemand telling .... and for those people BAKKT is an enormous HOPIUM injection to get rich fast whiteout knowing d*ck, also just as gentlemand says most like very much most people on the forum are in BTC for dollars but not gonna speak out loud of-course, at the other side I do understand that a lot of people see the opportunity to make a quick buck only they will be exposed to something they don’t know and they will only read the good stories like BAKKT = MOON overnight though they must read some post like how gentlemand and more explains things like BAKKT etc
Sometimes I think when somebody owns not to much IRL it’s difficult to get into BTC and have faith and etc though that’s a flawed statement, people just need to take the time and effort to try and learn about it.... Like all things in live, understanding requires effort of learning reading rinse and repeat

This is the reason I am in Monero, i believe in the cypherpunk dream of freedom.

https://www.activism.net/cypherpunk/manifesto.html

I guess Bakkt is a net good for crypto in general as it broadens the base for recognition.

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[LUCKMCFLY]

Bitcoin Futures markets reduce volatility ...

“Two months after their debut, Bakkt Bitcoin Futures reached a record high of 4,443 contracts traded today – up over 60% from our last record-setting day We look forward to building on this momentum as we approach the launch of the Bakkt Bitcoin Options contracts on Dec 9th”

According to Andreas Antonopoulos:

“[…] what’s it’s also done is its reduced volatility, which is really interesting because all the people complaining about the volatility, now you see reduced volatility, switch to complaining about price interference. Bakkt is slightly different because Bakkt does not do cash settlement.”

It is interesting what Bakkt can achieve ..

Source: https://eng.ambcrypto.com/bitcoin-futures-markets-reduces-volatility-of-the-cryptocurrency/

[ivomm]

When bakkt started everyone was very dissapointed. With a volume of several bitcoins per day, it was not exactly the moon event. This resulted in massive sell off of the weak hands that hoped for quich money. But then slowly things began to change. With a record over 5K BTC per day and above 2K each day, it definitely is a game changer. Give it a year or two. Paired with the halving, this will have some serious impact on the price for sure.

[gentlemand]

Just goes to show the gnat-like attention span of the average personage.

A couple of days of quietness after launch and they declared it needed a fork stuck in it. Look at it now.

This is why They will win.

[LUCKMCFLY]

Updated Bakkt..

ICYMI: Thursday's Bakkt Bitcoin Monthly Futures:

📉 Traded contracts: 2832 ($21.17 million, -50%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $4.31 million (+4%)

I run on caffeine: https://btl.to/@BakktBot

∙ Today's volume so far: 2150 BTC ($16.73 million)
∙ Last traded price: $7,783
∙ Trading day progress: 34%
∙ Current daily Bakktarget™: 4339 BTC ($33.77 million)

Source: @BakktBot

[LUCKMCFLY]

The General Director of the Bakkt bitcoin Futures Exchange will be offered a seat in the Georgia Senate next week under the support of Governor Brian Kemp, Kelly Loeffler.

The BTC market is removed from politics, focusing mostly on price discovery and a battle of bulls and bears. Futures markets offer a direct gateway for new entrants to speculate on the price moves of bitcoin – while avoiding actual ownership.

Even with the Bakkt futures, traders may choose to roll over the contract instead of taking delivery.

CYMI: Friday's Bakkt Bitcoin Monthly Futures:

📈 Traded contracts: 3167 ($24.61 million, +12%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $4.61 million (+7%)

I run on caffeine: https://btl.to/@BakktBot

@BakktBot

Weekend volumes remained relatively high above $18 billion in the last 24 hours.

Source:https://bitcoinist.com/bakkt-boss-is-the-choice-for-vacant-georgia-senate-seat/

[fillippone]

Daily Bakkt news:

Bakkt Bitcoin Futures Open Interest Hits New All-Time High of $6.54M

According to a Dec. 3 Twitter post published on Dec. 3 by Bakkt Volume Bot — a Twitter account dedicated to reporting Bakkt trading volumes — Monday’s open interest on Bakkt Bitcoin futures reached a new all-time high of $6.5 million.

In futures markets, open interest is the number of open contracts in the market and is often used to indicate the health of the market. When there is a large amount of open interest, new or additional capital is flowing in.

This is the tweet mentioned in the article:

ICYMI: Monday's Bakkt Bitcoin Monthly Futures:

 Traded contracts: 2328 ($17.02 million, -26%)
 All time high: 5671 (11/27/2019)
 Open interest: $6.54 million (+42%)

I run on caffeine: https://btl.to/@BakktBot

https://twitter.com/BakktBot/status/1201867438683557890

If you need an explaination about the Open Interest concept you can find it in my guide:
Everything you wanted to know about BTC futures but were afraid to ask!

[LUCKMCFLY]

It's great historical maximum Bakkt of $ 6.5 million!

According to Bakkt chief operating officer Adam White:

announced the firm’s move to include a cash-settled option in an apparent bid to further increase the platform’s popularity among investors. The Intercontinental Exchange — Bakkt’s parent company — later confirmed the launch of the option for Dec. 9.

Source: https://cointelegraph.com/news/bakkt-bitcoin-futures-open-interest-hits-new-all-time-high-of-654m

Bakkt is on a very good road!

[fillippone]

Something overheard during last days:

 Georgia Governor Appoints Bakkt CEO Loeffler as New US Senator

The Atlanta Journal-Constitution first reported that Kemp was considering Loeffler on Friday, with the Wall Street Journal, Washington Post, AP and other outlets confirming its reporting earlier this week. Loeffler will take office on Jan. 1, 2020. Though Isakson's term ends in January 2023, Loeffler will have to run for election next year if she intends to serve past January 2021.

While Loeffler said she was "pro-[U.S. President Donald] Trump," and in favor of his border wall, the Second Amendment and against abortion and socialism, she did not address crypto or bitcoin in her introductory remarks.

Loeffler has been the chief executive to Bakkt, the Intercontinental Exchange’s bitcoin-focused subsidiary, since the entity’s announcement in August 2018. Under her tenure, the company rolled out its physically-settled bitcoin futures contracts earlier this year.

Bakkt has more recently announced its intention to develop a consumer-facing mobile application for bitcoin payments, expanded custody services, as well as options and cash-settled futures contracts to be rolled out in the coming weeks.

It remains unclear who will take the helm at Bakkt after Loeffler takes up her new position on Jan. 1, 2020. However, current COO and former Coinbase executive Adam White would be a natural successor to the role. A spokesperson did not return a request for comment by press time.

Long term bullish bitcoin.
Having someone working to break the system from the inside is way more effective.

[LUCKMCFLY]

Go Bakkt!

#Bakkt #Bitcoin Futures Activity Report

Open interest level stable but a massive drop in trading volume yesterday.

For the past few days #Bakkt trading volume has followed a pattern similar to the CME #BTC futures.

Keep an eye on it with the daily updated report 👇

Source: https://twitter.com/ecoinometrics/status/1202234143972552705

[LUCKMCFLY]

Well, there are 3 days left ...

The Intercontinental Exchange (ICE) is a known backer of Bakkt and recently tweeted out that in just 4 days users will be able to trade on two new markets on Bakkt. Bitcoin (USD) options trading and Bitcoin (USD) cash-settled monthly futures will soon be available. The public was first made aware of these new market additions in an announcement by Bakkt in late November, as reported by BeInCrypto.

Source: https://twitter.com/ICE_Markets/status/1202358166673117184

Source: https://beincrypto.com/bakkt-to-release-cash-settled-bitcoin-options-futures-after-ceo-becomes-a-u-s-senator/

On the other hand:

So bears are afraid of futures?

Futures have brought ratio back to this market at peak FOMO in Dec 2017! Yes short term manipulation with futures is possible, like in gold markets, stop loss hunting with spoofing. But long term futures provide exits for institutional investors!

PlanB

[LUCKMCFLY]

Changes in Bitcoin-favorable direction may arise.

Hans Haya, senior quantitative analyst at Ikxigai, has a bullish trend thinking not only for price and adoption, Bakkt also takes center stage in the market.

Per previous reports from this outlet, the confluence includes: Deutsche Bank, the 17th largest bank in the world, recently observed that its estimates predict that the number of individuals using Bitcoin and cryptocurrency will appreciate by over 500% in the next decade;  the CEO of Bakkt has just become a U.S. Senator, meaning that Bitcoin could get its own cheerleader in Washington; and the idea that BTC is entering a long-term buying zone.

Source: https://www.newsbtc.com/2019/12/06/large-amount-dormant-bitcoin-dramatic-shift-incoming/

[Febo]

Weekly volume charts are way better way to see trends.  It seems we will start 12th week soon.
 

[JL0]

What will happen tomorrow in your opinion? Bakkt launching BTC cash-settled futures

[dragonvslinux]

Cross-posting this here for reference sake, but in my opinion the damage Bakkt caused with it's launch has ended.

I would therefore not attribute any further downside to the launch of Bakkt, as I believe it's bearish target has been met.

[exstasie]

What will happen tomorrow in your opinion? Bakkt launching BTC cash-settled futures

I don't think it's a highly anticipated event. If Bakkt had only been launching cash-settled contracts from the start, it never would have been hyped up at all. It was physical delivery that was a big deal.

When the news about a new cash-settled instrument dropped last month, the market was tanking and it kept tanking, so it didn't really set up a "buy the rumor, sell the news" situation.

[btc_angela]

What will happen tomorrow in your opinion? Bakkt launching BTC cash-settled futures

Nothing I guess, the hype around Bakkt is no longer in the air, so I don't think that it can put a significant effect on the market with their new launch. Probably we might see some spike, but that's it, all the Bakkt effect has been price in. So I wouldn't put too much on this cash settled futures, we grew tired of it.

[LUCKMCFLY]

Bakkt Activities..

#Bakkt #Bitcoin Futures Activity Report

With 12 days left to go to Dec'19 last trading day and prices stuck below US$ 8,000 we see more contracts being closed.

Keep an eye on it with the Bakkt #BTC report 👇

Source: https://twitter.com/ecoinometrics/status/1204052929117741056

On the other hand, an interesting article in the blog ..

Expanding the Bakkt Bitcoin Product Complex

An excerpt from it ...

Bakkt Bitcoin (USD) Cash Settled Futures: This new cash settled futures contract available on ICE Futures Singapore, an Approved Exchange in Singapore that offers participants in Asia and abroad a convenient, capital efficient way to gain or hedge exposure to bitcoin. This contract leverages the settlement price of the benchmark Bakkt Bitcoin (USD) Monthly Futures and provides an alternative for participants who are unable to trade our physically delivered contract.

Source: https://medium.com/bakkt-blog/expanding-the-bakkt-bitcoin-product-complex-68000faea6b3

[LUCKMCFLY]

Updated Bakkt..

Monday's Bakkt Bitcoin Monthly Futures:

📈 Traded contracts: 2513 ($18.50 million, +40%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $5.33 million (-9%)

I'm a bot and I like this trading bot - a lot. Try it for free: https://3commas.io/?c=bkt

Source: @BakktBot

 

Bakkt and CME are directly comparable given their regulated nature.

Source: https://www.cmegroup.com/trading/equity-index/us-index/bitcoin_quotes_volume_voi.html#tradeDate=20191206

Source: https://cryptobriefing.com/bakkt-bitcoin-options-contracts/

[LUCKMCFLY]

Another Update Bakkt!

ICYMI: Wednesday's Bakkt Bitcoin Monthly Futures:

📉 Traded contracts: 2067 ($14.79 million, -9%)
🚀 All time high: 5671 (11/27/2019)
💰 Open interest: $5.54 million (+4%)

I run on caffeine: https://btl.to/@BakktBot

Source:https://twitter.com/BakktBot/status/1205128963410059264