Miklight88
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September 22, 2019, 07:41:30 PM |
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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.
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bitsurfer2014
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September 23, 2019, 08:18:36 AM Last edit: September 23, 2019, 08:33:53 AM by bitsurfer2014 |
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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.
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1Referee
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September 23, 2019, 10:23:02 AM |
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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!
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Oasisman
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September 24, 2019, 01:53:03 AM |
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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.
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btc_angela
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September 24, 2019, 04:58:49 AM |
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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.
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el kaka22
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September 24, 2019, 07:21:33 AM |
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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.
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Vaculin
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September 24, 2019, 11:35:55 AM |
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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.
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Febo
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September 24, 2019, 02:38:09 PM |
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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.
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rdbase
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September 24, 2019, 04:31:06 PM Last edit: September 24, 2019, 08:49:57 PM by rdbase |
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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-debutI sure hope they dont get this request filled due to bakkt being the root cause of it. ![Undecided](https://bitcointalk.org/Smileys/default/undecided.gif) What else was released in the past 48 hours in direct correlation to the bitcoin market to cause a loss of nearly $700?
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figmentofmyass
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September 24, 2019, 04:33:10 PM |
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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? ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) 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
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1Referee
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September 24, 2019, 05:45:10 PM |
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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.
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beerlover
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September 25, 2019, 10:09:07 AM |
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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.
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barbara44
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September 25, 2019, 03:27:42 PM |
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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.
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Duzter
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September 25, 2019, 11:53:27 PM |
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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.
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bgaf
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September 26, 2019, 05:34:43 AM |
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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.
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Vaculin
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September 26, 2019, 10:43:57 PM |
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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.
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Yamifoud
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September 26, 2019, 10:50:08 PM |
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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.
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Coin_trader
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September 27, 2019, 07:06:29 AM |
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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.
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michellee
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September 27, 2019, 07:20:23 AM |
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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.
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Deborah Christine
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September 27, 2019, 08:17:08 AM |
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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.
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