Topic: Bakkt has traded only 7 BTC so far - page 3. (Read 870 times)
The Bakkt platform has just begun its work, therefore, the trading volume is not as large as expected. In addition, the launch of trading in Bitcoin futures coincided with a large decrease in the price of Bitcoin, which can also slow down the growth in trading volume on Bakkt. I think that in a growing market, trading volumes would be several times higher.
This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
Like most of the exchanges, it will take some time that people would soon realize the relevance and innovation of Bakkt has provided. Although the initial stage is worse than expected, it is still early to conclude about its success. Also, do note that they offer an exchange where it involves real contracts, which no exchange has ever done. Give it some time and exposure until people realize the relevance of each transaction.
I think that it's too early to say that bakkt failed. In my opinion bakkt need a little bit more time and is long term bullish. But the fact that people expected a big price increase because of the launch of bakkt can be short term bearish due to the disappointing.
Concluding that Bakkt failed prematurely is hasty generalization and conclusion. It will require some time until the people realize the effects of its transactions. Most are still skeptical and doubtful on using the exchange but it is plainly normal for anyone to think that way. Again, give it some time!
I guess the dump of Bitcoin price-wise was expected after BAKKT launching its services to the world. I think we need to give them time to get settled in their new role and so far 73 BTC is not bad at all for the new company doing business this way. I wonder though if the big institutions are responsible for bringing the price down today in order to procure more and cheaper BTC at wholesale prices, so they can then flog them at higher prices to their clients and customers/ I always think this happens and that's why Wall St is so phat and plump because it always feeds during recession times and hedges against its own products to drop the price to all-time lows. Let's see what the post BAKKT effect will bring to the markets over the coming weeks. At the moment it's not looking very good and the market has dropped a lot today. I wonder if Bitcoin will retrace back to 3.5k USD.
Any market exists only in motion, while transactions are made, therefore, seeks to maximize the volume of trading. If there is little volume at a price of $ 10,000, then you need a discount to be more willing to buy. 
I guess the dump of Bitcoin price-wise was expected after BAKKT launching its services to the world. I think we need to give them time to get settled in their new role and so far 73 BTC is not bad at all for the new company doing business this way. I wonder though if the big institutions are responsible for bringing the price down today in order to procure more and cheaper BTC at wholesale prices, so they can then flog them at higher prices to their clients and customers/ I always think this happens and that's why Wall St is so phat and plump because it always feeds during recession times and hedges against its own products to drop the price to all-time lows. Let's see what the post BAKKT effect will bring to the markets over the coming weeks. At the moment it's not looking very good and the market has dropped a lot today. I wonder if Bitcoin will retrace back to 3.5k USD.
I think that it's too early to say that bakkt failed. In my opinion bakkt need a little bit more time and is long term bullish. But the fact that people expected a big price increase because of the launch of bakkt can be short term bearish due to the disappointing.
AFAIK they opened the market at an average price based on a few exchanges, what mechanisms they have to protect against this so-called manipulation probably the same thing from their other products apply, I haven't managed to find anything specific.
This is understandable, but which exchanges and with what weight? Does it not seem strange to you that the Bakkt pricing mechanism is not transparent?
By the way, does anyone know the Bakkt pricing mechanism? How is the problem of protection against price manipulations to which some cryptocurrency exchanges exposed? Why the price for now is 9787.5$, not 5000$ or 15000$? I tried to find information about this and to no avail.
Nothing can be protected by manipulation, so Bakkt will also be subject for it if not actually the ones manipulating it.
AFAIK they opened the market at an average price based on a few exchanges, what mechanisms they have to protect against this so-called manipulation probably the same thing from their other products apply, I haven't managed to find anything specific.
But as long as there is no tether involved, no CFD, the impact should be minimal compared to what we have seen before, and this is the only thing I like about them if they will really act this way and they do have the real bitcoins in their "warehouse". So, the lesser of two evils.
i think a contract is 10 btc, so 28 =280btc
https://www.theice.com/products/72035483Quote
Contract Size
1 Bitcoin
1 Bitcoin
So no, it's 1 bitcoin.
Funny fact, with that volume Bakkt's usd/btc pair would be below place 341 on CMC.
and the exchange itself on 131.
By the way, does anyone know the Bakkt pricing mechanism? How is the problem of protection against price manipulations to which some cryptocurrency exchanges exposed? Why the price for now is 9787.5$, not 5000$ or 15000$? I tried to find information about this and to no avail.
doesn't "so far" in this context means the past 4 hours? since it seems like Bakkt just started running their market. and if that is true, then 7BTC/4 hour is not such a small figure for something that is not even a day old. that is $70k we are talking about not a small amount of money.
It has gone up to 18BTC in 7 hours. 2.5BTC/h.
And, no, it's a ridiculously low amount for all the hype that was chanted for almost a year about the whole thing, they are close to the average Wallmart sales per day.
And if we're at a point of comparing the most awaited event, the thing that was supposed to drive in "institutional" money to BTC to a Wallmart...haha, yeah but still ignoring all that hype, i'd say it has grown nicely over the past 24 hours and the volume seems to be constantly increasing. i don't think "institutional" investors are waiting to jump in with their head first just because Bakkt started.
on a side note, it is interesting how there is a big sell pressure over the past 24 hours on the actual market pushing the price down though.
We now have 73 BTC volume, give these guys some time, although BTC price has dumped after listing, I am positive about it.
Well this keeps increasing, the price is less than $ 10K, but I think the best way to buy is by lowering prices, right? Go 71 Bitcoins!
https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541
Taking into account that Strong Hands always buy cheap, the market is going the right way, of course the corresponding FUD will not be missing, but that is something else.
https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541
Taking into account that Strong Hands always buy cheap, the market is going the right way, of course the corresponding FUD will not be missing, but that is something else.
i think a contract is 10 btc, so 28 =280btc
Apparently it was expected to be slow. As most of the people would like to wait and see what happpens. As of now, 29 BTC has been traded which is decent in itself.
It's because it just started, why not give it sometime to grow?
It won't grow overnight, remember that we are still in a cycle wherein there is no movement. Last two months the price of bitcoin seems just to hover around $10k, indicating that we are in a sideway patterns. Or maybe institutional investors are just waiting and observing from behind before they pour their money. So give it something and just how it pan out in the next coming days.
It won't grow overnight, remember that we are still in a cycle wherein there is no movement. Last two months the price of bitcoin seems just to hover around $10k, indicating that we are in a sideway patterns. Or maybe institutional investors are just waiting and observing from behind before they pour their money. So give it something and just how it pan out in the next coming days.
This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
Bakkt is targeting institutional investors, and they are still suspicious and cautious of crypto in any shape or form. They will come, but they will do so carefully, one small step at a time. Someone will try it out, see that it works, and others will be encouraged to do the same. Remember, they have no experience with crypto, and their knowledge of it is questionable as well. It is completely new to them, and they need time to become comfortable about it.
This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
What do you expect, thousands of BTC being purchased on the first day? As everyone has been saying, Bakkt excitement is no longer there since it's been long overdue. We have seen Wall Street react when CBoE and CME have open a bitcoin future contract, and majority will tell you that it didn't end up good because it started the bearish cycle of the market.How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
But we will see, it's just the opening, maybe we can see some whales or big institutions to go and play with whole "Bitcoin-settled futures", however, I'm not putting high expectations so that I won't get disappointed.
I have the feeling that users have to high expectations from Bakkt but at the end they might get disappointed.
It's only the begininig but and it takes some time to see the effects but I don't think that will influence Bitcoin significantly. Still I wouldn't like to make conclusions at the moment, let's wait a while.
It's only the begininig but and it takes some time to see the effects but I don't think that will influence Bitcoin significantly. Still I wouldn't like to make conclusions at the moment, let's wait a while.
It's the same as everything else. The crypto kids want it NOW and if it doesn't happen then their attention wanders back to kitten or beheading videos. Stuff like this sneaks up, it doesn't grind its crotch in your face from the off.
The CME futures thing is the same. It was piddling on launch. When a few could be bothered to check it again quite some time later it was doing very muscular volumes indeed.
I have the feeling that users have to high expectations from Bakkt but at the end they might get disappointed.
It's only the begininig but and it takes some time to see the effects but I don't think that will influence Bitcoin significantly. Still I wouldn't like to make conclusions at the moment, let's wait a while.
It's only the begininig but and it takes some time to see the effects but I don't think that will influence Bitcoin significantly. Still I wouldn't like to make conclusions at the moment, let's wait a while.
You can pass your verdict when bakkt reaches 100 days in the office, you know, the usual way it is done with public office holders I think given the situation, it is not even up to a day in office, so It is too early to start making public complaints, let all the institutions start getting involve and let see how the performance will be, the hype already died down long ago.
I think given the situation, it is not even up to a day in office, so It is too early to start making public complaints, let all the institutions start getting involve and let see how the performance will be, the hype already died down long ago. This was always the "moonshot bet" of the NYSE ownership, looks like an underwhelming start to Bakkt trading with only 7 BTC traded.
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
At the moment, Bakkt has already seen 18 Bitcoins. Maybe it takes time for people to get involved in Bitcoin futures? Understand this is new to users, it scares to start
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