Bakkt is coming: will this be biggest crypto week ever and set off bull run?

[phillymogul]

This writer said Bakkt has been closely-watched by bitcoin and cryptocurrency
traders and investors, with many hoping it will usher in a bitcoin bull run
to rival the epic 2017 surge.

Bitcoin, Ethereum, Ripple’s XRP, And Litecoin Could Be Heading Into Their Biggest Week Ever. 

Bakkt, is an Intercontinental Exchange-backed bitcoin platform. It was 
announced last year and partners include Microsoft and Starbucks.

Here is link to article:
https://www.forbes.com/sites/billybambrough/2019/09/15/bitcoin-ethereum-ripples-xrp-and-litecoin-could-be-heading-into-their-biggest-week-ever/#5292f52f60be

Do you agree with these happy thoughts or is this just smoke in the air? 

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[gentlemand]

Nah. Nothing of note of will happen.

If the existing market is bored shitless, why would the sentiment be any different via a new channel? If there was insane bullishness it would perhaps magnify it. It certainly won't create it from thin air.

[phillymogul]

It certainly won't create it from thin air.

Yes agreed. I have not seen one magic crypto or platform launch that moves market by itself.

[serjent05]

I don't think that Bakkt will give that huge push in Bitcoin Market.  I believe, they had been piling up Bitcoin for their launch ever since their plan were established.  So the moment they launch, they probably have the needed Bitcoin for their initial operation so it won't be that huge impact as we are thinking, though it is early to tell.  But, it is just my opinion so anything can happen when this Bakkt officially starts its operation.

[metallica101]

Well, it might, although the chances are slim. Nothing ever goes as planned with Bitcoin. It is possible that something will happen soon regardless of Bakkt, Bitcoin's recent stability is not something that will stick around for long, that's for sure.

[Oceat]

Well, it might, although the chances are slim. Nothing ever goes as planned with Bitcoin. It is possible that something will happen soon regardless of Bakkt, Bitcoin's recent stability is not something that will stick around for long, that's for sure.

With the said chances are too slim, I can conclude that it won't help to boost the price of any cryptocurrency. Bitcoin will still remain its course just like nothing has ever happened because Bakkt doesn't give a bigger impact even if they start their operation already.

[Kemarit]

Probably we can see a boost, but not that bull run that we all have been waiting for. There could be new money coming in the ecosystem, but I don't see that it will be enough. Bakkt made noise last year, unfortunately it took a while before they got the approval, and the hype has died down already. So don't expect a similar scenario like 2017 here, so that you won't get disappointed in the end.

[samcrypto]

There’s a small progress on the right now and maybe this is a good sign that BAKKT can bring the price up but we can’t really know until it happen. Bitcoin price should recover and a progress like BAKKT is what we need for that to happen, no more delays and no more cancelation that’s what investors is waiting for.

[kawetsriyanto]

There could be new money coming in the ecosystem, but I don't see that it will be enough.

I am with you. I won't expect too much on Bakkt issue. Bakkt may bring something good but it should be temporary impacts.

~snip~ a progress like BAKKT is what we need for that to happen, no more delays and no more cancelation that’s what investors is waiting for.

In fact, it is not like all investors expect. There is always a delay after delays. And finally, they are bored with Bakkt. Then, the hype has already gone.

[pooya87]

This writer said Bakkt has been closely-watched by bitcoin and cryptocurrency
traders and investors, with many hoping it will usher in a bitcoin bull run
to rival the epic 2017 surge.

Bitcoin, Ethereum, Ripple’s XRP, And Litecoin Could Be Heading Into Their Biggest Week Ever. 

sounds to me that the "writer" has been bag holding a bunch of shitcoins and he wishes to recover from the 90% loss in total that he has experienced because of his bag holding. otherwise Bakkt has nothing to do with any of these shitcoins that were mentioned here. if anything it will lead to a bitcoin price rise and that rise can trigger another wave of altcoin dumps as investors migrate from altcoins back to bitcoin again, like they always do during bitcoin price rises...

[meanwords]

I think Bakkt is the only thing that would move the price upward this year. I mean, it would give way to other investors and common people to have Bitcoin so more users are able to join in.
 
Although Bakkt is good news to us, I don't think that Bakkt would suddenly make Bitcoins price pump. That author is I think exaggerating it to produce more hype for the project.

[Darker45]

Comparing it to the "the epic 2017 surge" is absolutely exaggerated. No single launching will double the price of Bitcoin unless it is the United Nations that will launch it as its official currency, which will not happen.

The news about Bakkt has already sold out when it came out to the press much earlier. And after several postponements, the excitement has died down a lot. Less than a week before its debut, Bakkt is heard very seldom and the price of BTC is in red.

We better be crossing our fingers for this venture to be successful. This will still be beneficial in the longer term.

[avikz]

Nah. Nothing of note of will happen.

If the existing market is bored shitless, why would the sentiment be any different via a new channel? If there was insane bullishness it would perhaps magnify it. It certainly won't create it from thin air.

On the contrary I have a different thought! I remember similar kind of discussions happening during the launch of CME's bitcoin future and I have seen a lot of people were optimistic about it without knowing the ground reality, that CME wasn't offering physical bitcoin settlement.

So in the case of Bakkt, it is way different because Bakkt is aiming to offer physically settled bitcoin futures contracts. This actually will help to increase the demand of bitcoin in the market, which wasn't the case of CME!

I don't see anything created from thin air in Bakkt! It's robust plan to offer institutional and accredited investors a physically settled bitcoin contract can impact the market very positively! Probably it will provide the necessary stimulus that the crypto market is looking for!

[Kakmakr]

Do not expect to see fireworks. Bakkt already bought the bitcoins for the warehouse to support the physical coins that is needed to support this physically settled bitcoin futures contracts. So you are not going to see a sudden spike in the price, because Bakkt is not going to buy millions of dollars worth of coins now.  

This is just hype:
https://siliconangle.com/2019/09/15/analysts-predict-bitcoin-boom-times-ahead-bakkt-futures-launch/

Also, https://cointelegraph.com/news/bitcoin-deposited-in-bakkt-warehouse-protected-by-125m-insurance - The price of Bitcoin will not even see a major boost with only 125 million dollars worth of Bitcoin being bought and sold on exchanges.    These bitcoins that are traded on the Bakkt platform are not reflected on the exchanges that determine the Bitcoin price.  

[michellee]

Bitcoin does not depend on bakkt or else, and bitcoin will increase at the right time, which all people don't know when. That is great if there is any approval for the other, but I don't think that it will push the price to increase or rally after it's release. But if after it's launch the price can increase so high, and even the price can start the rally, then it will be good for us because we see the next of bull run that will happen after the approval. But still, we need to be patient until the time for the bull run comes.

[stompix]

So, after all the hype ..is the Bakkt pump ....Rekt? 
Yeah, I suck at puns.

Nah. Nothing of note of will happen.
If the existing market is bored shitless, why would the sentiment be any different via a new channel?

I have the same feeling as I watch the prices once or twice a day, even the current move I feel it's more like something that had to happen so we won't forget there are actual trades going on.
Stopped for a few months to check the prices on a regular base, and I don't see this changing too soon, I have a feeling nothing that important would happen. And even if it does...
- price goes up, don't plan to sell
- price goes down, don't have that much $ laying around to make a notable difference..
So, I'm just browsing around enjoying the impatience of some posters here

[cheezcarls]

This writer said Bakkt has been closely-watched by bitcoin and cryptocurrency
traders and investors, with many hoping it will usher in a bitcoin bull run
to rival the epic 2017 surge.

Bitcoin, Ethereum, Ripple’s XRP, And Litecoin Could Be Heading Into Their Biggest Week Ever. 

Bakkt, is an Intercontinental Exchange-backed bitcoin platform. It was 
announced last year and partners include Microsoft and Starbucks.

Here is link to article:
https://www.forbes.com/sites/billybambrough/2019/09/15/bitcoin-ethereum-ripples-xrp-and-litecoin-could-be-heading-into-their-biggest-week-ever/#5292f52f60be

Do you agree with these happy thoughts or is this just smoke in the air? 

Like what happened after April Fools Day and the announcement of Facebook’s Libra Coin, I think it’s possible. However, I wouldn’t fully count on that though.

Right now, we are experiencing a pullback from $10.2k to $9.9k of BTCs price. Ethereum and others are also having a slight pullback.

I just don’t know if this is actually another accumulation strategy of the bear whales in preparation for Bakkt’s arrival. I could be wrong or right, but time will tell.

We will see that in more days to come. Cheers!

[Baofeng]

Anyone notice that dump today? Is this a preparation for the launch on the 26th? Do we really need to relived the pressure at $10k? Although this is supposed to be "physically back up", but I don't see any drastic effect, if that is what average joe's wanted to see in the next coming weeks after a successful launch. Everyone should understand that investors are getting wise by the minute so I don't see anything spectacular going to happen in the market and personally not expecting bull run here.

[ChrisPop]

I believe that Bakkt will have a significant impact on bitcoin price in the long term because now institutional investors can trade bitcoin on "regularized"/professional exchange. But in the short term I don't think it will have major impact on the market price.

[oleg681010]

Bakkt!? Do you think they should be trusted?