Bakkt Bitcoin Futures Set New Daily Record Trading Over $20M

alyssa85

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Quote from: hugeblack on November 23, 2019, 11:47:54 AM

According to data from Intercontinental Exchange (ICE), Bakkt futures trading volume reached the highest level at $ 20.3 million, or 2,367 contracts, surpassing the previous figure of 1,756.

This increase coincided with the decline in Bitcoin price below $ 7000 and stability at that range.
They seem to be "Institutional investors are trying to seize the dip! to buy more
Don't forget that BAKKT will launch paper futures next year.

Read more and source ---> https://cointelegraph.com/news/bakkt-bitcoin-futures-set-new-daily-record-trading-over-20m

You are assuming that institutional investors are trying to "seize the dip".

But they might have been shorting and trying to force the price down. We just don't know.

Yatsan

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Quote from: kapalmabur on November 26, 2019, 07:44:42 AM

Quote from: dragon695 on November 26, 2019, 06:04:49 AM

This shows that the number of traders on the crypto market is increasing and they no longer want to invest in projects or alts, which has affected the prices of alts quite a lot in recent years.
but in fact this is very good news because the bitcoin futures contract will attract many more people in the future and the daily volume will grow even stronger in the future if the price of bitcoin fluctuates more strongly.
With many new trading tools like this our market will soon see a new bull run and a slow alts season.

the volume of $ 20M for BAAKT in my opinion is still small, even though BAAKT has a strong institutional network, but this is progress,
there is nothing instant in this world, except making noodles, I still believe BAAKT can be more than this, even though the time required is long,

It was not bad at all for Bakkt start up, actually it is impressive growth knowing it was just 2 months ago, just take a look at their graph. It will just look like small when you compare it to its existing competitor that have been in the market for so long. It is pretty natural after all, they started slow but smooth setting their ATH $20M volume and coincides the price is running according to plan. Bakkt is just starting their settlements and incoming integrations no need to be concious about it.

Quote from: kapalmabur on November 26, 2019, 07:44:42 AM

for alt season don't despair friends, it's coming soon Grin

I'm just afraid if this day comes, and it would just be another bitcoin, I hope it ain't.

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Quote from: dragon695 on November 26, 2019, 06:04:49 AM

This shows that the number of traders on the crypto market is increasing and they no longer want to invest in projects or alts, which has affected the prices of alts quite a lot in recent years.
but in fact this is very good news because the bitcoin futures contract will attract many more people in the future and the daily volume will grow even stronger in the future if the price of bitcoin fluctuates more strongly.
With many new trading tools like this our market will soon see a new bull run and a slow alts season.

the volume of $ 20M for BAAKT in my opinion is still small, even though BAAKT has a strong institutional network, but this is progress,
there is nothing instant in this world, except making noodles, I still believe BAAKT can be more than this, even though the time required is long,
for alt season don't despair friends, it's coming soon Grin

joniboini

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Quote from: dragon695 on November 26, 2019, 06:04:49 AM

This shows that the number of traders on the crypto market is increasing and they no longer want to invest in projects or alts, which has affected the prices of alts quite a lot in recent years.

This seems quite far-fetched. An increase in volume doesn't necessarily mean more users, it could also mean that the user has more confidence in the market and trade more. This is Bakkt for institutional traders we're talking about after all.

Unique visits is probably better metrics to know whether we have new traders on boards but it's still prone to errors.

dragon695

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This shows that the number of traders on the crypto market is increasing and they no longer want to invest in projects or alts, which has affected the prices of alts quite a lot in recent years.
but in fact this is very good news because the bitcoin futures contract will attract many more people in the future and the daily volume will grow even stronger in the future if the price of bitcoin fluctuates more strongly.
With many new trading tools like this our market will soon see a new bull run and a slow alts season.

BChydro

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Quote from: hugeblack on November 23, 2019, 11:47:54 AM

According to data from Intercontinental Exchange (ICE), Bakkt futures trading volume reached the highest level at $ 20.3 million, or 2,367 contracts, surpassing the previous figure of 1,756.

So the exchange volume is increasing and i am not sure whether these are good signs considering the overall strength of bitcoin as these are just speculative markets and it will not boost the price like we used to see in the past and that is the only reason i am worried about how things will pan out this time after halving as we have a new speculative market which can control the price if there is manipulation by whales.

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Quote from: Greed Dev on November 24, 2019, 04:36:17 AM

wow, I thought Bakkt was really dead but now it has recovered. This is incredible and our market has a new bitcoin futures exchange.
I think there will now be more people using money to participate in these games and our capitalization will gradually increase further in the future. Let's wait for how much the price of Bitcoin will pump in 2020. Grin

We will be seeing more of this in the future. More growth and possible will reach even trillions of dollars o trading records. It is just the beginning as more people will trust this technology, more will dive in and enter on crypto market.

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Quote from: Pearls Before Swine on November 23, 2019, 04:13:28 PM

Quote from: hugeblack on November 23, 2019, 11:47:54 AM

They seem to be "Institutional investors are trying to seize the dip! to buy more

These traders are trading futures, and there's nothing in that article that indicates that they're betting on higher prices. They could just as easily be betting on a *lower* price. Plus those futures contracts might not even be settled with actual bitcoin. Most futures traders don't want the underlying asset, and this is true in the commodities market as one example. They just want to bet on the direction of the price of whatever it is they're trading.

Seems like these traders are on work now with BAKKT, the last time I checked the future contracts on BAKKT last month it was just about 400 to 500 contracts daily. Yeah, most people are just riding this since this project has a lot of incoming settlements.

Quote from: Pearls Before Swine on November 23, 2019, 04:13:28 PM

I also don't think this trading is affecting bitcoin in any way. All of these are transactions that don't happen on an exchange that contributes to the reported price, so I'm not really sure this story has any real significance other than the fact that Bakkt might be getting more successful. That's a good thing but it isn't a huge news item.

Every event in the market has a bearing on the bitcoin's price although it was not deliberately done in exchange it does not mean it has no effect on the bitcoin. This probably caused the recent price dump on bitcoin, more or less $1000 has been decreased on the bitcoin price this week. What I'm afraid of these happenings is the other cash-settlement implementation of bitcoin features that will start this december.
Having that said, all we can do is to take granted of the decreasing value of bitcoin without forgetting BAKKT.

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wow, I thought Bakkt was really dead but now it has recovered. This is incredible and our market has a new bitcoin futures exchange.
I think there will now be more people using money to participate in these games and our capitalization will gradually increase further in the future. Let's wait for how much the price of Bitcoin will pump in 2020. Grin

Willitivity

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Even though the increased trading volume record came in same time as Bitcoin dumping very hard, it's still very much noteworthy to point out the fact that BAKKT has been doing very well on a low-key. I believe BAKKT will start showing a good positive effects from next year, it may not pump Bitcoin but will surely play a role in the next bull run.

1Referee

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Quote from: teosanru on November 23, 2019, 11:55:12 AM

Irrespective of what is the reason of increased volume I still think this is something positive because even after quite a few weeks of listing there was pretty depressing volume present in this market. It actually showed a pretty bad image of this Crypto market as no one was interested when futures were listed on a graceful exchange.

The volumes were depressing because we were stuck inside a decending triangle where the range within the price moves tightens further and further, and when that happens, the volume suffers a lot. I don't see how that shows a bad image of the crypto market. It's something we see happen in every single market.

People mistakenly thought that the futures volume of bakkt directly after launch would be so high that the price would pump. If you think logically, there is no way for any platform to generate high volume right off the bat. It takes time for every institution and brokerage firms to register with bakkt to get things up and running. It can take weeks up to months.

I expect bakkt to consistently surpass 10,000BTC on a daily basis in the next 12-24 months. They aren't here to play around. It's serious business.

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Quote from: hugeblack on November 23, 2019, 11:47:54 AM

They seem to be "Institutional investors are trying to seize the dip! to buy more

These traders are trading futures, and there's nothing in that article that indicates that they're betting on higher prices. They could just as easily be betting on a *lower* price. Plus those futures contracts might not even be settled with actual bitcoin. Most futures traders don't want the underlying asset, and this is true in the commodities market as one example. They just want to bet on the direction of the price of whatever it is they're trading.

I also don't think this trading is affecting bitcoin in any way. All of these are transactions that don't happen on an exchange that contributes to the reported price, so I'm not really sure this story has any real significance other than the fact that Bakkt might be getting more successful. That's a good thing but it isn't a huge news item.

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Quote from: hugeblack on November 23, 2019, 11:47:54 AM

...
This increase coincided with the decline in Bitcoin price below $ 7000 and stability at that range.
They seem to be Institutional investors are trying to seize the dip! to buy more

"Stability at that range"
Wut?
A minor Dead Cat Bounce after a 30% drop in a month hardly qualifies as stability?
"seize the dip"
Institutional Investors buy the underlying asset, not derivatives.

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Quote from: hugeblack on November 23, 2019, 11:47:54 AM

According to data from Intercontinental Exchange (ICE), Bakkt futures trading volume reached the highest level at $ 20.3 million, or 2,367 contracts, surpassing the previous figure of 1,756.

This increase coincided with the decline in Bitcoin price below $ 7000 and stability at that range.
They seem to be "Institutional investors are trying to seize the dip! to buy more
Don't forget that BAKKT will launch paper futures next year.

Read more and source ---> https://cointelegraph.com/news/bakkt-bitcoin-futures-set-new-daily-record-trading-over-20m

To bad they dont work on weekends, they cold make another record. Dont they know that money never sleeps? They are not that intelligent I guess.

ashmodeus

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no wonder , since many many people have a speculate about the real Bakkt affect will come on next year.
that must be a , lets say a signal maybe ?
and also , probably because it , green signal come suddenly .

teosanru

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Irrespective of what is the reason of increased volume I still think this is something positive because even after quite a few weeks of listing there was pretty depressing volume present in this market. It actually showed a pretty bad image of this Crypto market as no one was interested when futures were listed on a graceful exchange.

hugeblack

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According to data from Intercontinental Exchange (ICE), Bakkt futures trading volume reached the highest level at $ 20.3 million, or 2,367 contracts, surpassing the previous figure of 1,756.

This increase coincided with the decline in Bitcoin price below $ 7000 and stability at that range.
They seem to be "Institutional investors are trying to seize the dip! to buy more
Don't forget that BAKKT will launch paper futures next year.

Read more and source ---> https://cointelegraph.com/news/bakkt-bitcoin-futures-set-new-daily-record-trading-over-20m

Topic: Bakkt Bitcoin Futures Set New Daily Record Trading Over $20M (Read 199 times)