Topic: [2018-11-21] Bitcoin Price Rises From $4,050 to $4,560 Amid Extreme Volatility (Read 88 times)
November 21, 2018, 04:57:43 PM
We had a little breather from that but it doesn't mean that the price of BTC has stopped dropping. We need to recall that we thought Bitcoin was safe around the 5,900$- 6,000$ level which has stayed there for awhile before it finally broke down to where we are now. This price increase is considerable but it doesn't mean that we are out of the woods yet, I'll be worry free once I see Bitcoin have a stable rally going back up rather than seeing Bitcoin having this kinds of short price pumps.
November 21, 2018, 12:30:08 PM
Bakkt manipulation is starting early, they haven't even started trading yet! The speed at which it bounced up 500 dollars shows just how quickly things can turn around
November 21, 2018, 12:19:56 PM
Bitcoin Price Rises From $4,050 to $4,560 Amid Extreme Volatility Following Bakkt Delay
Over the past 12 hours, the price of Bitcoin, which was dangerously close to breaching the $4,000 support level, surged from $4,050 to $4,560 by more than 12 percent.
On Coinbase and major fiat-to-crypto exchanges like Bitstamp and Kraken, Bitcoin dropped to as low as $4,030 for a brief period of time and recovered to $4,200 almost immediately after. Eventually, BTC rebounded to $4,500, showing some resistance in the low $4,000 region.
Bakkt Controversy
On November 20, ICE, the parent company of the New York Stock Exchange, released a statement regarding the delay of the Bakkt Bitcoin futures market launch from December 12 to January 24, 2019.
The official document shared by ICE stated that the institution needs more time to handle the onboarding of customers and clearing members before opening the futures market.
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval,” an excerpt from the announcement read. “The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”
Following the release of the announcement, rumors emerged that the Bakkt delay caused the price of BTC to drop and the information was leaked to a handful of large-scale investors in the cryptocurrency market.
Some argued, given that Bakkt acknowledged growing demand for its futures product, that investors bought into BTC as it dropped to the low region of $4,000 and it was all a plan to accumulate more of the dominant cryptocurrency.
CCN | https://www.ccn.com/bitcoin-price-rises-from-4050-to-4560-amid-extreme-volatility-following-bakkt-delay/
Over the past 12 hours, the price of Bitcoin, which was dangerously close to breaching the $4,000 support level, surged from $4,050 to $4,560 by more than 12 percent.
On Coinbase and major fiat-to-crypto exchanges like Bitstamp and Kraken, Bitcoin dropped to as low as $4,030 for a brief period of time and recovered to $4,200 almost immediately after. Eventually, BTC rebounded to $4,500, showing some resistance in the low $4,000 region.
Bakkt Controversy
On November 20, ICE, the parent company of the New York Stock Exchange, released a statement regarding the delay of the Bakkt Bitcoin futures market launch from December 12 to January 24, 2019.
The official document shared by ICE stated that the institution needs more time to handle the onboarding of customers and clearing members before opening the futures market.
“ICE Futures U.S., Inc. will list the new Bakkt Bitcoin (USD) Daily Futures Contract for trading on trade date Thursday, January 24, 2019, subject to regulatory approval,” an excerpt from the announcement read. “The new listing timeframe will provide additional time for customer and clearing member onboarding prior to the start of trading and warehousing of the new contract.”
Following the release of the announcement, rumors emerged that the Bakkt delay caused the price of BTC to drop and the information was leaked to a handful of large-scale investors in the cryptocurrency market.
Some argued, given that Bakkt acknowledged growing demand for its futures product, that investors bought into BTC as it dropped to the low region of $4,000 and it was all a plan to accumulate more of the dominant cryptocurrency.
CCN | https://www.ccn.com/bitcoin-price-rises-from-4050-to-4560-amid-extreme-volatility-following-bakkt-delay/
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