Bakkt released September 23 Is it going to pump or dump the price?

[randegibran]

What last week have discuss bakkt before and what they are talking about in 23 September, but we need good respond from economic world to accept bitcoin as their payment transaction.

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[UNOE]

What last week have discuss bakkt before and what they are talking about in 23 September, but we need good respond from economic world to accept bitcoin as their payment transaction.

One week later, but where are we? Sure the price is rising steadily but only because it is recovering from last week.
Where people have stated it wasn't bakkt to blame for the dump of nearly 23% in total on the price.

[BitHodler]

Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.

Between $8k and $10k we have various moving averages algorithms will sell at, plus we have fresh sub $9k buyers who will be dumping their coins the moment we see the price make a move up.

Whales aren't cooperating with each other.... when one whale tries to pump the price, other whale(s) will dump it back down. Similarly, an attempted move to dump the price will be bought up. It's whale versus whale versus the smaller fishes.

Also, whales aren't going against the trend without there being a good reason for it. The trend has been down and I'm sure it will be respected until we find support somewhere and mark that price as bottom.

[sana54210]

I still highly doubt that the dump was caused by people being upset about the volume of bakkt. I mean if there was so much attention to bakkt that people bought bitcoin with the hopes that bakkt would go super high in volume and would be hyped like hell, than there would be some people who would also be hyped about bakkt itself.

Having a hype about bakkts volume and impact on bitcoin but having absolutely no interest towards bakkt itself doesn't seem that plausible to me, at least not at this level, we have literally fell like 20%+ in bitcoin price, nothing got that much hyped about bakkt at all. It is still a decent possibility that there was a whole whale that got fed up with bitcoin or had to cash out for something and he just got rid of his bitcoins for something else.

[prix]

Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.

It is impossible to take into account the order books of all exchanges, hidden orders, bots, OTC-orders as well as strong psychological resistance at the 'over 9000' level.
Not to mention that crypto spoofing is still common. In general, looking at the walls is bad idea.

[Kakmakr]

I still highly doubt that the dump was caused by people being upset about the volume of bakkt. I mean if there was so much attention to bakkt that people bought bitcoin with the hopes that bakkt would go super high in volume and would be hyped like hell, than there would be some people who would also be hyped about bakkt itself.

The people who were hyped about Bakkt was not the institutional investors, but rather the current hoarders/speculators in the Bitcoin scene. These people had unrealistic expectations about the Billions of dollars that might be invested into Bitcoin futures on the day of the launch and that was simply not realistic at all.

Institutional investors look for stable investments with high returns and a manageable risk to protect investment money that might be used for pension funds. They are not risk takers with high risk investments and they prefer cash settled investments and not something that are settled with actual assets. 

[ethereumhunter]

Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.

It is impossible to take into account the order books of all exchanges, hidden orders, bots, OTC-orders as well as strong psychological resistance at the 'over 9000' level.
Not to mention that crypto spoofing is still common. In general, looking at the walls is bad idea.

I am worried about the bot that will cause the price is up and down without any order fills. It could make some traders cannot focus on their buy or sell price, and that could make a mistake to them. But I realize that is what happens with the market and I hope that the traders know how they should do. Well, we need to wait for a while for what will the whales do related to the market, and if somehow, they are making an order buy or sell, then the price will be changed too.

[alyssa85]

The people who were hyped about Bakkt was not the institutional investors, but rather the current hoarders/speculators in the Bitcoin scene. These people had unrealistic expectations about the Billions of dollars that might be invested into Bitcoin futures on the day of the launch and that was simply not realistic at all.

Institutional investors look for stable investments with high returns and a manageable risk to protect investment money that might be used for pension funds. They are not risk takers with high risk investments and they prefer cash settled investments and not something that are settled with actual assets. 

Ding, ding, ding, we have a winner.

Institutional investors need to have a reason to buy bitcoin. Two years ago there was the promise that a proper eco-system would be built with ecommerce accepting bitcoin and so on. And nothing has materialised. And that is why new money is reluctant to enter the space.

[Xxmodded]

Have released for Bakkt about bitcoin respond with world economic where bitcoin still not get positive from many government and bitcoin price still down and lower, we need some thing big how to build basic of bitcoin foundation to make many government want to adopt and give regulation for bitcoin become digital transaction.