How Bakkt will influence Bitcoin price?

[jonathan6655321]

Do you think it has a correlation? Or it's just some big players that manipulating the market?

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[franky1]

Do you think it has a correlation? Or it's just some big players that manipulating the market?

dump?

not even a month ago the price was lower than it is today. what should be seen is more like a short spike september 3-6 and then settling back to norm.

when prices fluctuate less than 20% thats the norm. its called volatility for a reason.
from  september peak of $10,700 to a low of $9,900 thats not even a 10% shift. thus not really anything to be concerned about

[jonathan6655321]

I'm not concerned about Bitcoin in the long run.

Keeping my bitcoin for almost 2 years

But I do wonder if Bakkt had and will have influence over the bitcoin price

[mk4]

What dump? The small dip from around $10,200 to $9,900? We call these dumps now?

While there's no surefire way to know what caused that "dump" that you're saying, it's very likely just due to the typical volatile nature of bitcoin. You've been registered since 2017; the price swings shouldn't be new to you already.

But I do wonder if Bakkt had and will have influence over the bitcoin price

Of course it will have, no matter how big or how small. We just don't know if it would be in a positive or negative manner in terms of price. But in the end, increased market liquidity is always great.

[jonathan6655321]

What dump? The small dip from around $10,200 to $9,900? We call these dumps now?

While there's no surefire way to know what caused that "dump" that you're saying, it's very likely just due to the typical volatile nature of bitcoin. You've been registered since 2017; the price swings shouldn't be new to you already.

I think I just used the wrong text in the title


You're right

Price swings are not new to me

I just wonder what the influence of Bakkt will be on Bitcoin
and it seems like it won't be positive
 
but because of my lack of knowledge, I ask here the community

[gantez]

I see not much happening with that. Price has move from its low since a year ago till what we have at the moment. We are going to be feeling some volatility and that is it.

[Steamtyme]

I don't really follow this much but have heard most of the main talking points. Mostly it's a lot of "Oh, no this will be like 2017 when CME launched and tanked the price" - I think I got that right. Which is a rather ludicrous line to draw anyways. Sure it may have had some effect but mostly it was a correction from the FOMO. When I hear this it usually goes hand in hand with a tiny caveat at the end how Bakkt will "physically" have the BTC.

The thing here is to not look at this event on a small time frame, give it a couple months to see how the rollout goes, then a year or two to see the real benefits. I think it will be an overall positive as it's a step in adoption and acceptance, that requires actually moving BTC around.

[DeathAngel]

If it’s to be uber bullish for the price then I don’t expect it to be instant. It might take a while, I don’t think we’re going to see a major spike in the next few days.

[The Sceptical Chymist]

What dump? The small dip from around $10,200 to $9,900? We call these dumps now?

I hate that word "dump" as used by the majority of fools here.  As bad as the mainstream financial media is, even they don't use a word like that to describe a dip in price.

And no, that tiny little fluctuation was nothing and if we're even calling that a dump or a dip then there's some serious perspective being lost.

not even a month ago the price was lower than it is today.

At least you get it.  Now as far as the Bakkt thing goes, we'll have to see once the big players start trading.  I do have a feeling that the result won't be neutral, as some have stated.  In fact I think it'll be good for bitcoin's price, at least early on.  What I'm wondering is how it's going to affect bitcoin's notorious volatility--and I don't know the answer to that, but I'll be watching the parade with popcorn in hand.

[virasog]

Do you think it has a correlation? Or it's just some big players that manipulating the market?

Where do you see the manipulation or dip in the bitcoin price ? Today is Weekend so you will except more volatility due to low volume. Bitcoin price was in little below 10kK$ and now it is again above 10K.
I do not understand why people create multiple threads here complaining that the price is dumping before the bakkt launch when actually it is not.
You will get nothing by creating the fud.

[mk4]

I just wonder what the influence of Bakkt will be on Bitcoin
and it seems like it won't be positive
 
but because of my lack of knowledge, I ask here the community

It could be either. In the end, it all comes down to supply and demand as per usual. And if you're going to the "manipulation" route, it could also go either way. Remember, the "whales" can manipulate the prices(to a certain extent) both in an upward trend or in a downward trend.

And again, all that matters is that there will be increased market liquidity.

[kryptqnick]

Do you think it has a correlation? Or it's just some big players that manipulating the market?

If Bakkt launched when it was supposed to, it could trigger the market recovery. Postponing the launch resulted in disappointment and contributed to the winter dump. Now there are way less people who still care about Bakkt, so I think there won't be any huge impact. Futures ignore the actual price, I think they are not healthy for Bitcoin. But a small pump due to hype can occur temporarily.

[crzy]

Do you think it has a correlation? Or it's just some big players that manipulating the market?

None anymore or after a month maybe we can see the effect of BAKKT? Well, manipulation was on the market ever since and we can’t say that BAKKT is the reason of that we have to look for more opportunities on how we can handle the manipulators and have profit as well. We hope that BAKKT will be good for the price of bitcoin, let’s see.

[lightningmelo]

I believe it won't matter much and we can even see a price drop in the short-term.

In the medium and long term, it will definitely be a positive influence for Bitcoin in general (and it's price too, obviously).

[bitsurfer2014]

Bakkt's presence in the crypto industry  only signifies that there is a growing demand among traditional investors and other  people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of  investors to join on this growing trend.

[avikz]

Bakkt's presence in the crypto industry  only signifies that there is a growing demand among traditional investors and other  people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of  investors to join on this growing trend.

Spot on! People have to remember, that Bakkt is gearing up to offer physically settled bitcoin future contracts! That means, if Bakkts receives an order for a future contract from an investor, they will have to buy equivalent amount of bitcoins from the market. If a buyer of the contract is willing, they can take delivery of the equivalent amount of bitcoins to their personal wallet. This is indeed going to help the bitcoin market because the demand is going to increase.

However, I don't expect any immediate effect to be seen in the market. We may see some spikes or downtrends in the market depending on the demand, but it requires a lot of money to manipulate a $180 billion market! But Bakkt is definitely a plus! 

[scambust]

Bakkt's presence in the crypto industry  only signifies that there is a growing demand among traditional investors and other  people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of  investors to join on this growing trend.

Spot on! People have to remember, that Bakkt is gearing up to offer physically settled bitcoin future contracts! That means, if Bakkts receives an order for a future contract from an investor, they will have to buy equivalent amount of bitcoins from the market. If a buyer of the contract is willing, they can take delivery of the equivalent amount of bitcoins to their personal wallet. This is indeed going to help the bitcoin market because the demand is going to increase.

However, I don't expect any immediate effect to be seen in the market. We may see some spikes or downtrends in the market depending on the demand, but it requires a lot of money to manipulate a $180 billion market! But Bakkt is definitely a plus! 

Yes, Bakkt is positive on paper. But by tomorrow, I expect one of two things to happen: A breakout to $10,500 and then a crash to $8,000 or a breakdown to $9,000 a then a rally to beyond $12,000. It is only a few hours left, we will soon see.

[rdbase]

People are extremely skeptical on what it will do to the price tomorrow when it officially launches to its customer.
According to this post in the wall observer thread which is a good one to read on its progression until it is unveiled.
https://bitcointalk.org/index.php?topic=178336.msg52520017#msg52520017

[bitbunnny]

I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.

[bitcoinposts]

Bakkt launch is most anticipated launch look like crypto industry may slightly react to bakkt launch now the market is bullish we can expect btc to touch 15000 dollars with this launch

[Miklight88]

seeing toward the way market are being handle now adays seems very manipulative cos there is no way a those news are just mere one but a very bad way to pump the market in a way that they will be a thinking of its due to the news.

[bitsurfer2014]

Bakkt's presence in the crypto industry  only signifies that there is a growing demand among traditional investors and other  people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of  investors to join on this growing trend.

Spot on! People have to remember, that Bakkt is gearing up to offer physically settled bitcoin future contracts! That means, if Bakkts receives an order for a future contract from an investor, they will have to buy equivalent amount of bitcoins from the market. If a buyer of the contract is willing, they can take delivery of the equivalent amount of bitcoins to their personal wallet. This is indeed going to help the bitcoin market because the demand is going to increase.

However, I don't expect any immediate effect to be seen in the market. We may see some spikes or downtrends in the market depending on the demand, but it requires a lot of money to manipulate a $180 billion market! But Bakkt is definitely a plus!  

Yes, Bakkt is positive on paper. But by tomorrow, I expect one of two things to happen: A breakout to $10,500 and then a crash to $8,000 or a breakdown to $9,000 a then a rally to beyond $12,000. It is only a few hours left, we will soon see.

Apparently, Bakkt's opening didn't result to a surge in BTC's price but currently it is still moving sideways! - https://coinmarketcap.com  So I guess we will see within the first month of its operation any effects on BTC's price so that we can have a better idea on its influence on crypto markets in general.

Since its their opening day, I understand interested customers are in the process of fulfilling regulatory compliance such as KYC procedure that is necessary before they could buy Bitcoin Futures and we should not expect a surge in BTC's price just yet. Imho.

[1Referee]

I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.

Bakkt has done a lot to hype up itself so it's not all that surprising to see people jump on the Bakkt bandwagon.

What people did however (rightfully) expect to happen was some sort of a sell the news dump, but it has either been front ran already (hence the current price), or the smart money just doesn't care much and we still have to wait a week or so for the bearish formation to finally break.

The actual fundamental benefit of Bakkt is that it provides a fully regulated platform stimulating honest price discovery. I think that's something we should cherish the most instead of just focusing on pumps and dumps.

People tend to consider the volumes exchanges such as Coinbase generate low, but that's only because of how much fake volumes exchanges like Huobi, OKEx, etc generate. Give Bakkt a good few months to settle and grow. It's not doing too bad; currently 28BTC volume while Vaneck's trust hasn't seen a single penny of capital inflow in almost a week!

[Oasisman]

Bakkt launch is most anticipated launch look like crypto industry may slightly react to bakkt launch now the market is bullish we can expect btc to touch 15000 dollars with this launch

It seems like the hype didnt worked? Bakkt had a slow start and the price dips around $300 from the last 24hrs after the opening. Bitcoin is trading at $9.7k at this very moment, and I dont think the slight pull of the price has no connection with the opening of Bakkt.
We'll just hope something positive will come on the upcoming weeks after the opening of Bakkt, my hopes are high for something to happen.

[btc_angela]

Bakkt launch is most anticipated launch look like crypto industry may slightly react to bakkt launch now the market is bullish we can expect btc to touch 15000 dollars with this launch

It seems like the hype didnt worked? Bakkt had a slow start and the price dips around $300 from the last 24hrs after the opening. Bitcoin is trading at $9.7k at this very moment, and I dont think the slight pull of the price has no connection with the opening of Bakkt.
We'll just hope something positive will come on the upcoming weeks after the opening of Bakkt, my hopes are high for something to happen.

Oh well, I think everyone got the answer already, it has negative effect on the market when it opened, Lol. Never thought that this will happen, but what do you expect? The playing field is very open and it is prone to manipulation. Maybe some entity want to pull the price down before getting inside. Right now it's really hard to see where the price is going since Bakkt entered the picture. But up to this point, it doesn't look good, there's no more hype and on the contrary the price did slide.

[el kaka22]

Volume is so little that it makes absolutely no sense to be hyped about this. After seeing bakkt everywhere for years I was thinking them like they were some big deal but right now there is literally no trade that really could shape the future of bitcoin, its so tiny that it wouldn't change anything in bitcoin world.

Personally, I believe if there was this much hype about it and there was no volume to support that hype, I am imagining a scenario where big companies who will use bakkt are just waiting for a better moment and they are holding their investments until its established and showed that it does what it does properly without any issues and over time there will be more and more volume, if that is not the case then there is really nothing we can get out of bakkt and its useless.

[Vaculin]

Do you think it has a correlation? Or it's just some big players that manipulating the market?

As if there is something significant happened in the market, I get it, price dumped below $10K but it's been the normal movement this month, that's only a sideways movement and that is something we should worry. In fact, I believe this is a positive news and I am now confident that even if the price will dump it will recover since we already have big players in the market.

Just relax, because the effect of this is long term, the market for now is not so stable but eventually the market will start to rally and that will surprise us, either in the last quarter or probably next year before the halving schedule.

[Febo]

 BAKKT is now dumping those Bitcoins they bought at $3000-$4000 at start of this year. They will triple their money. Pretty much mission accomplished.

[rdbase]

I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.

But it has as explained in the following article released just after it launched. The bears are looking for a $7.7k bitcoin.
https://cointelegraph.com/news/bitcoin-price-bears-eye-77k-to-capitalize-on-lukewarm-bakkt-debut
I sure hope they dont get this request filled due to bakkt being the root cause of it.
What else was released in the past 48 hours in direct correlation to the bitcoin market to cause a loss of nearly $700?

[figmentofmyass]

Volume is so little that it makes absolutely no sense to be hyped about this.

what did people expect---5-6 figure BTC volume on the first day? it's a brand new product and liquidity is probably lacking. short traders are limited by the BTC in the vault.

anyone know on what basis bakkt/ICE will be reporting holdings in the vault? i don't see bitcoin listed here. https://www.theice.com/FuturesUSReportCenter.shtml

[1Referee]

BAKKT is now dumping those Bitcoins they bought at $3000-$4000 at start of this year. They will triple their money. Pretty much mission accomplished.

Are you kidding me? They're not dumping anything. Bakkt actually benefits from a price that's going up because people aren't too keen on buying into something that's going down. You're basically saying that they are destroying their own market. Nah.

We're just witnessing a continuation of the bearish momentum. We tested the very bottom of the descending triangle perfectly. It's going to be interesting what will happen from here, but it's not looking too good. The sellers have plenty of ammo to sell while the buyers will back off more and more, especially when we definitively break down.  

[beerlover]

All of the guesses have been marginally wrong. Some said it would have big impact and those are incredibly wrong, like literally as wrong as someone could ever be in life about anything, there could never be anything more wrong. The people who said there won't be a big impact were wrong a lot less because they knew it wouldn't affect bitcoin but I assume even they didn't assume it would literally be zero.

I haven't seen the latest report on what the volume was looking like but from what I gather it has less volume than some fake Chinese exchanges out there. It is really a change of pace to see real volumes because everyone including coinbase and binance make fake volumes time to time (at least coin owners do it to make it look like they are around) but Bakkt didn't do it, they could have made millions of dollars of fake volume on day 1 but they didn't, so guess that's good.

[barbara44]

Volume is so little that it makes absolutely no sense to be hyped about this. After seeing bakkt everywhere for years I was thinking them like they were some big deal but right now there is literally no trade that really could shape the future of bitcoin, its so tiny that it wouldn't change anything in bitcoin world.

Personally, I believe if there was this much hype about it and there was no volume to support that hype, I am imagining a scenario where big companies who will use bakkt are just waiting for a better moment and they are holding their investments until its established and showed that it does what it does properly without any issues and over time there will be more and more volume, if that is not the case then there is really nothing we can get out of bakkt and its useless.

I am sorry to say that those who were expecting bakkt to make any difference as soon as it gets to the market are clowns, how is that possible when it is not applei Phone or Samsung galaxy product that people have been used to and they do queue up for another one when there is a new version, this is so because people are already used to that product and are eager for new features.

Bakkt is a new product entirely, and this is a platform that no one has ever used before, it is not that they are upgrading or adding new future, it is an entirely new system on its own, and people don’t so much fall for hype again, so I never expected anything from bakkt until we have some level of growth in its usage, they started with 7 btc which was quite huge to me, and from that 7btc, they will continue to grow in volume till it gets to  stage where it can have an effect on the market.

[Duzter]

There is a big expectation over the price of bitcoin with reference to the Bakkt launch. To the expectation things have been taking place in the opposite direction. Even if this is common form of growth people never accept it, they always look the price fall get connected to some events or negative news as a form of manipulation. This time there is nothing as bad news which is why everything got turned over bakkt.

[bgaf]

I think Bakkt really had something to do with the bitcoin peice now. But Im sure many expected this sideway since Bakkt plan already to have some cheap bitcoin price before the total bull run implemented or happened soon. Think about it, when Bakkt launch why do you think people keeps the price go down? There some mystery to it but Im sure many players wanted it to go down so they can filled bags before the upcoming ATH which will exceed the 20k levels.

[Vaculin]

I think Bakkt really had something to do with the bitcoin peice now. But Im sure many expected this sideway since Bakkt plan already to have some cheap bitcoin price before the total bull run implemented or happened soon. Think about it, when Bakkt launch why do you think people keeps the price go down? There some mystery to it but Im sure many players wanted it to go down so they can filled bags before the upcoming ATH which will exceed the 20k levels.

As usual, this market movement is not what we are expecting if Bakkt launch is a great news, then may people have already dump because in the past few months bitcoin is rising, they followed the method which is to "buy rumor sell the news'.

If you guys can't take what is happening now, better close your eyes and just wake up when the market is already back to green.
I am sure this would not last long, the long bear market we've experience last year is long enough, this big news will help us to change the market into a better one and this dump is just an initial reaction.

[Yamifoud]

I think Bakkt really had something to do with the bitcoin peice now. But Im sure many expected this sideway since Bakkt plan already to have some cheap bitcoin price before the total bull run implemented or happened soon. Think about it, when Bakkt launch why do you think people keeps the price go down? There some mystery to it but Im sure many players wanted it to go down so they can filled bags before the upcoming ATH which will exceed the 20k levels.

I don't think there is a market manipulation at this time. If does, investors will surely be benefiting this one as they are capable of doing it.
However, isn't a big factor that contributed a lot to sudden market dumps. Will, it something correlated also with the upcoming Bakkt events and people have speculated for the big price hike. Will it hope that it all our speculations will gonna be right and have to go through with the bull run.

[Coin_trader]

Were all hoping that Bakkt launch will give us good market again, at least a small bull run or an increased in today's prices. Might attract new investors to push through bitcoin again. But how we will be able to experience it when even it just launch some already do scamming on it. Some already gives bad reviews without trying or using it yet. Lets see in the next few days how it can really affect the market.

[michellee]

I only see after Bakkt launch, and bitcoin price is down until now and the price is down too deep now. It seems, Bakkt has prevented bitcoin price from going to the higher price, and it shows the price is to turn the direction to the lower price. But I hope that it will not take too long to see bitcoin price will increase again soon. But I don't know if there are manipulations from the big traders who have a huge amount of bitcoin. But we could still make a profit because the price does not just stay at one price, but the price is moving from the lower price to higher price and back to lower price again. So you can expect to make a profit by buying bitcoin at a low price and then sell when it increases.

[Deborah Christine]

In my opinion Bakkt will affect the price of bitcoin.  The price of bitcoin will experience a sharp increase. Because Bakkt is a crypto platform created by large and trusted companies and this has the potential to attract large capital to the crypto market. The demand for bitcoin will increase and prices will increase.

[Morguk]

I don't think Bakkt will directly influence the price of BTC at all. However in the future when bigger players want to dabble in crypto, say as the next bull run comes, then they might want to be able to use Bakkt for institutional plays. That's when it will indirectly increase the price of BTC.

[Vaculin]

I don't think Bakkt will directly influence the price of BTC at all. However in the future when bigger players want to dabble in crypto, say as the next bull run comes, then they might want to be able to use Bakkt for institutional plays. That's when it will indirectly increase the price of BTC.

At this early stage we will not feel its effect yet but in the long run, it will be a big help to increase the adoption in the market.
The current situation surely is not purely cause by Bakkt launch which people sell the news as this happens after it was release, if it is, its suppose to happen weeks before the launch.

I'm very positive of Bakkt regarding its contribution in the market, bitcoin is just getting stable with this big platform getting on board in the market.

[Ayiranorea]

In my opinion Bakkt will affect the price of bitcoin.  The price of bitcoin will experience a sharp increase. Because Bakkt is a crypto platform created by large and trusted companies and this has the potential to attract large capital to the crypto market. The demand for bitcoin will increase and prices will increase.

Majority of the users believed everything that has been stated by you will take place by the launch. To the expectation it hasn't gained good support. Less than 100 bitcoin got distributed through the futures contract. Some play has been performed to outlaw the progress of Bakkt. It is a very early stage. Hope things will change slowly when the market slowly recover from the immediate drop.

[serjent05]

I don't think Bakkt will directly influence the price of BTC at all. However in the future when bigger players want to dabble in crypto, say as the next bull run comes, then they might want to be able to use Bakkt for institutional plays. That's when it will indirectly increase the price of BTC.

It will directly influence the price of BTC since they are trading Bitcoin backed futures (meaning they can give or take certain demand out of the Bitcoin market).  But to what extent is still unknown.  We see BAKKT is still on its intial stage of gathering clients, so we do not see any substancial effect of it on the market.   I think we a bit of patience to see the actual affect of this platform to the Bitcoin industry.

In my opinion Bakkt will affect the price of bitcoin.  The price of bitcoin will experience a sharp increase. Because Bakkt is a crypto platform created by large and trusted companies and this has the potential to attract large capital to the crypto market. The demand for bitcoin will increase and prices will increase.

Majority of the users believed everything that has been stated by you will take place by the launch. To the expectation it hasn't gained good support. Less than 100 bitcoin got distributed through the futures contract. Some play has been performed to outlaw the progress of Bakkt. It is a very early stage. Hope things will change slowly when the market slowly recover from the immediate drop.

I believe Bakkt had been accumulating on its early phase, so when it launched the Bitcoin needed is ready to fill the demand of their initial clients.

[vintages]

I don't think Bakkt will directly influence the price of BTC at all. However in the future when bigger players want to dabble in crypto, say as the next bull run comes, then they might want to be able to use Bakkt for institutional plays. That's when it will indirectly increase the price of BTC.

I feel it will be more indirectly than directly.
We can not however judge it effectiveness on Bitcoin price because it is on it early stage.
On the long run, we will be quite sure to certain level whether it influence on Bitcoin price is been natural and not hyped.

[senne]

The recent correction in the price of bitcoin is indeed because of the underwhelming response from the bakkt. But this doesn't mean that the situation won't change in future. Bakkt is the first Bitcoin futures trading platform which is federally regulated. It was the lack of regulatory framework which kept institutional investors at bay. But bakkt gives a safe platform and solves the purpose. This is surely gonna bring in institutional money in the system.

Though the recent slump did show that there isn't much correlation between the btc price and the bakkt. But that is purely because of the not up to the point response. This is expected to change in future.

[Herbert2020]

I don't think Bakkt will directly influence the price of BTC at all. However in the future when bigger players want to dabble in crypto, say as the next bull run comes, then they might want to be able to use Bakkt for institutional plays. That's when it will indirectly increase the price of BTC.

It will directly influence the price of BTC since they are trading Bitcoin backed futures (meaning they can give or take certain demand out of the Bitcoin market).  But to what extent is still unknown.  We see BAKKT is still on its intial stage of gathering clients, so we do not see any substancial effect of it on the market.   I think we a bit of patience to see the actual affect of this platform to the Bitcoin industry.

the thing about Bakkt is to introduce bitcoin to a new crowd not to those who already knew about it or were using it before. so it should technically bring new demand into the bitcoin market. but we can't really expect it to happen overnight or in the first week of their launch. it will be a slow process but it will bring in new investors and will definitely introduce bitcoin to a much larger crowd.

[BitHodler]

the thing about Bakkt is to introduce bitcoin to a new crowd not to those who already knew about it or were using it before. so it should technically bring new demand into the bitcoin market.

I would love to have that be the case, but I doubt it. It's not that retailers or institutions experience problems entering this space without Bakkt. It can be done through the many spot exchanges or through derivatives.

It's important to highlight the fact that not everyone is interested in Bitcoin for its fundamentals, which means that they have no problems holding derivatives with how they are only out to capture the exposure.

I surely believe that not everyone is open to invest in Bitcoin, but it's hard to imagine that people don't know of Bitcoin's existence yet, unless they have been living under a rock.

[1Referee]

I would love to have that be the case, but I doubt it. It's not that retailers or institutions experience problems entering this space without Bakkt. It can be done through the many spot exchanges or through derivatives.

There is a shortage of legacy institutions offering a secure and more importantly, trusted way to buy Bitcoin. I have been in Bitcoin for years now, and I still don't feel too comfortable wiring money to any of the current top regulated crypto exchanges. I'm pretty sure that a lot of people are only willing to step in when they see the household brands of the legacy financial world offer these services.

People have ridiculous expectations of Bakkt so early on. Calm down. I am confident that Bakkt will do at least 1000BTC per day on their monthly contracts before the block halving kicks in. That means brokerages have had the time to sign up to Bakkt, get the paperwork done, and offer these futures to their own clients. The more brokerages tap into Bakkt's platform, the more clients there are to reach who not knowing what Bakkt is.

[Reid]

I dont think so.

But there will be a lot of movements.
Who knows how every human being thinks? I am looking at some of them buying this Bakkt in exchange for their bitcoin.
For me it could be a foolish move for it is just like riding the hype which happened before with Wave.

Give it three months maybe then it will be back to normal. Also, this is just some normal movement for bitcoin. The abnormal is going 20k again.

[legendster]

I don't think Bakkt will directly influence the price of BTC at all. However in the future when bigger players want to dabble in crypto, say as the next bull run comes, then they might want to be able to use Bakkt for institutional plays. That's when it will indirectly increase the price of BTC.

Just a few days ago people were losing their marbles as they were harking the launch of Bakkt and how it coincided with a falling wedge pattern on the 4 hour scale of the BTC/USD chart. It really looked that way for a while and then we all know how it went kaput.

If I am not wrong, this is the largest slide of Bitcoin this year and it directly coincides with the launch of Bakkt. So if you say that Bakkt will not directly influence Bitcoin prices, then I would like you to reconsider your opinion. Because all this cannot be just a coincidence.