Bitcoin Futures Trading Posts Record Volumes, Bakkt Breaks All-Time High

[cheezcarls]

Bitcoin futures markets are booming, posting record numbers yesterday across the board. Bakkt also managed to break its previous all-time high in trading volume.

Wednesday was a good day for Bitcoin. Futures trading volume saw an increase as did Bitcoin’s own price. It is now safely above the $7,000 support level.

Source link here

Okay so I got no problem with Bakkt's rising trade volume whatsoever, but there is one thing that I am kinda concerned.

Of course, Bitcoin has a good day yesterday. But I honestly believe that it might go even lower because of PlusToken's dumping of their BTC and ETH earnings.

It's a good thing for Bakkt to break it's all-time high and they're definitely on a momentum. I'm just looking forward on what is going to happen next with Bakkt starting next year onward.  

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[samuraijin]

Bakkt is just undergoing a process and this is quite fast than people think, maybe next year will have a high volume of trade and increase from this year, who knows about it, I know that everything needs to process and not as fast as we think , but let the time that shows it all, Plus Tokens throw away and everyone wait about it take from their hands, hoping that there aren't many fools in the future who are easily tempted by quick profits let alone follow the ponzi scheme site

[franky1]

bakkt is has 1000btc because its contracts(shares/bets)  are of USD buy-in and exit. meaning they are just hoarding 1000btc to act as collateral holds.
bakkt is not purchasing loads of bitcoin. it just buys a load and then holds. the coins it holds now were bought ages ago.

bakkt has no big impact on real bitcoin exchange trading.
customers of bakkt are just depositing dollar and gambling a price and taking dollar out. no actual bitcoin trading inbetween

[pakhitheboss]

Is it helping the market? I do not think so! Will it ever help the market? I think it will eventually it is just the beginning and every system takes time to operate in its full capacity.

Futures contract is certainly exciting many investors. Binance has also launched its futures platform.

[DeathAngel]

BAKKT might not be doing amazing things for the price right now but it’s a tool that allows institutional investors to get in. When the time comes & FOMO hits BAKKT will be used en masse. They give big players the confidence to enter into bitcoin.

Patience is required.

[BlacksmithCorporation]

Bitcoin futures markets are booming, posting record numbers yesterday across the board. Bakkt also managed to break its previous all-time high in trading volume.

Wednesday was a good day for Bitcoin. Futures trading volume saw an increase as did Bitcoin’s own price. It is now safely above the $7,000 support level.

Source link here

Okay so I got no problem with Bakkt's rising trade volume whatsoever, but there is one thing that I am kinda concerned.

Of course, Bitcoin has a good day yesterday. But I honestly believe that it might go even lower because of PlusToken's dumping of their BTC and ETH earnings.

It's a good thing for Bakkt to break it's all-time high and they're definitely on a momentum. I'm just looking forward on what is going to happen next with Bakkt starting next year onward.  

A good sign, Bakkt has a bad start but it seems to be on the right track for everyone to expect. Bakkt could become the top 1 exchange as more institutional investors participate.

[kryptqnick]

Bitcoin futures markets are booming, posting record numbers yesterday across the board. Bakkt also managed to break its previous all-time high in trading volume.

Wednesday was a good day for Bitcoin. Futures trading volume saw an increase as did Bitcoin’s own price. It is now safely above the $7,000 support level.

Source link here

Okay so I got no problem with Bakkt's rising trade volume whatsoever, but there is one thing that I am kinda concerned.

Of course, Bitcoin has a good day yesterday. But I honestly believe that it might go even lower because of PlusToken's dumping of their BTC and ETH earnings.

It's a good thing for Bakkt to break it's all-time high and they're definitely on a momentum. I'm just looking forward on what is going to happen next with Bakkt starting next year onward.  

I think that it's amazing how a project that was pretty much stillborn turned out successful after all. Moreover, I believe it's a good thing that at least something Bitcoin-related is gaining popularity and that its interests are now represented in the US government even (the Bakkt CEO). But is all that necessarily good for Bitcoin? I am not sure of that. I think that an important part of Bitcoin is its free market. Futures are oriented on quite the opposite, as far as I know. They offer to ignore the real market conditions and agree in advance about the buy/sell transactions. In this sense, the popularity of Bakkt might even harm Bitcoin if the former gets very popular.

[DreamStage]

I actually think the main reason of such happening was due to most of the investors that left Binance or other exchange that were blocked / stoped started buying elsewhere.

So price would drop as we saw since they would sell immediatly and buy on other ends.

Maybe it had to do with Binance's Shanghai office being shut down or who knows.

But one thing was certain, the same amount of selling was bought after the next days that's why we have price at a stable $7.200 again.