So how many people saw this coming? The ones that ignored standalone news in favour of seemingly solid charting technicals? Or the ones that knew Bakkt wasn't as anticipated as people wanted to say they would be?
I wonder how the Tom Lees feel like now. Cause if their followers were truly people waiting for the likes of Bakkt to come... well, it's here.
I'll tell you what happened: institutional money didn't wait. They went in a while back;)
@buwaytress I’ll be honest a while ago I was keenly awaiting Bakkts launch, as I believed it would propel bitcoin prices upwards but later on when I saw it was continuously being delayed I stopped focusing on it. I’m not surprised to see bitcoin prices have not reacted at all to it’s launch, however I do believe that in the long run it has the potential to power up bitcoin prices.
that's the thing though, people are jumping to conclusion too fast about Bakkt. it is brand new and it was not supposed to bring waves of people in the first day of its launch although it was hyped up a lot.
in my opinion the minimal things that happen with things like Bakkt is that they remove a lot of false information in the minds of everyone who has ever heard the name "bitcoin". for example how could it be "fraud" (according to JPMorgan) and still be used by a ton of legitimate places?! and that is the biggest achievement if you ask me, even bigger than bringing institutional investors!
