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