Launching on a Sunday night isn't the most extravagant way of doing it. Let us give it a week or so.
Even then why would there be masses of excitement, volume and FOMO? There sure as shit isn't anywhere else.
I was expecting nothing and it looks like I'll get it. Better than a dump at least.
Topic: Bakkt has traded only 7 BTC so far - page 4. (Read 870 times)
It's already 26BTC, so it's going up nicely, imho even better than I expected, given it's the first day and some may avoid it today because of this (?).
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...
Apparently amid falling interest rates, investors are more interested in continuing to inflate the stock market with buybacks. 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... Not sure how it works, but do new future exchanges mostly have high volume at their first day? And take note that this is a bitcoin futures exchange, not your typical futures exchange. People will still be skeptical of bitcoin as per usual. I'm guessing that this will be a slow and steady increase in the long term, as people(hopefully) learn more about bitcoin.
I'm still optimistic that Bakkt is a great move by ICE, because I don't think the owner is someone who just yolo opens businesses without deeply thinking about it and having researchers to see if there is actually potential demand. Just my 2 satoshis.
I'm still optimistic that Bakkt is a great move by ICE, because I don't think the owner is someone who just yolo opens businesses without deeply thinking about it and having researchers to see if there is actually potential demand. Just my 2 satoshis.
Bakkt needs time for people to try how it works. I think we should talk about the result of the work done, at least a month after the launch of Bitcoin futures.
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...The most important things is the fact that it allows for institutional traders to trade in actual bitcoins now and that is something significant. There will also be some "events" that would push traders to look for safe havens and we know Bitcoin is perceived as a safe haven. 
It certainly didn't act like when we think of the recent events, from the escalation of the trade war to the oil attacks.
And if it were we would probably see a volume worth more than....see above
.Oh, and I'm not really disappointed about the numbers, I don't see Bakkt as something that is a must for the crypto environment, nor can I say I trust a single thing coming from them. Why just because they are dealing with BTC now suddenly they are the good guys? The less influence they have overall the happier I am.
I think it is a bit too early for people to judge Bakkt's Bitcoin trading volume, because traders still need to understand the whole concept behind the thing they are trading, before they are going to jump into something like this. We have a scenario where people are looking at what other people are doing and once this takes off, it will go up like crazy.
The most important things is the fact that it allows for institutional traders to trade in actual bitcoins now and that is something significant. There will also be some "events" that would push traders to look for safe havens and we know Bitcoin is perceived as a safe haven.
The most important things is the fact that it allows for institutional traders to trade in actual bitcoins now and that is something significant. There will also be some "events" that would push traders to look for safe havens and we know Bitcoin is perceived as a safe haven.
Click on the image to check the current volume. 5 hours after the launch Volume 18BTC. This will take time to capture high volume but I think community expected more volumes at the launch.
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/
Easy, man, this is not the time to draw hasty conclusions after several hours from the start of the Bakkt service. And yes - there is no rush demand. How will Wall Street react to Bitcoin-settled futures?
https://www.instagram.com/p/B2vLp43pI2A/
also next time try to provide a more reliable link than an instagram post!
Here you go, Bakkt data linksDaily - https://www.theice.com/products/72035483/Bakkt-Bitcoin-USD-Daily-Futures-Contract/data
Monthly - https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data
Edit: Data are available now and volume is now 63 BTC and counting, not bad if you would ask me.
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.
also next time try to provide a more reliable link than an instagram post!
also next time try to provide a more reliable link than an instagram post!
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/
You must have too high expectations about it. Try to mellow it down, or get disappointed with the result. Also, this is just day one!
I don't expect Bakkt trading to be as loud and attractive out there as we have heard about it from in here. The hype of Bakkt is basically focused within the crypto community as it is another great step toward hitting the mainstream. But I'm not sure how the traditional traders outside the crypto world accept it. For sure, there will be doubts, there will be testing of the waters first. You cannot expect the majority of them to jump head-on into it. But what I'm sure of is that this is going to get better in the long run. There will be gradual effect rather than instant.
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/
Bitcoin is still a controversial currency to a lot of traders, especially to the conventional ones! Today is the first day of bakkt I don't know from where did you get the figure of 7 btc only. The instagram link you have shared, did not talk about the volume!
I am still very optimistic about Bakkt because no other exchange offers physically settled bitcoin future contracts! It may take its own sweet time but eventually Bakkt will become a major volume driver in the crypto market.
Yeah there's not much precedent to know for sure how much volume to expect at launch, but 7 BTC is basically nothing. It's not even $100,000 and this is supposed to be a platform for institutional traders. I'd expect to see trading volume into the tens of millions of dollars very shortly after launch
Not sure how it works, but do new future exchanges mostly have high volume at their first day? And take note that this is a bitcoin futures exchange, not your typical futures exchange. People will still be skeptical of bitcoin as per usual. I'm guessing that this will be a slow and steady increase in the long term, as people(hopefully) learn more about bitcoin.
I'm still optimistic that Bakkt is a great move by ICE, because I don't think the owner is someone who just yolo opens businesses without deeply thinking about it and having researchers to see if there is actually potential demand. Just my 2 satoshis.
I'm still optimistic that Bakkt is a great move by ICE, because I don't think the owner is someone who just yolo opens businesses without deeply thinking about it and having researchers to see if there is actually potential demand. Just my 2 satoshis.
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/
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