Topic: Bakkt Hits New All-Time High Volume but Analyst Pours Cold Water on Bitcoin Bull (Read 191 times)
December 12, 2019, 06:31:33 PM
i think bitcoin does not need bakkt for grow ; since the launch of that bakkt prices fall without stop . in my opinion it is better to wait for etf because the last can effecte at prices in the positive trend . i say always bakkt is the cause of this drop in prices bitcoin
November 30, 2019, 12:34:29 PM
I think Bakkt is not as influencing as people think it is.
@el kaka22 there was lots of hype for Bakkt before but it kept on getting delayed and delayed and all those who were excited for it lost their interest in it. I remember when it was finally launched no one here seemed excited for it, and now it’s not surprising to see that Bakkt has been unable to influence the crypto market. However going ahead I feel it’ll be able to influence the prices, but we will have to be patient with it.
November 30, 2019, 08:35:36 AM
I think Bakkt is not as influencing as people think it is. Everyone saw the bitcoin price fall back in September and said it was due to BAKKT not having enough volume and that was the cause of the price fall, I didn't see the connection but at the end of the day we actually saw that the price could fall even without BAKKT being low neither, I mean I get it, first time it was due to volume being low on something with huge hype and there was a reasoning, but now it is high as hell and the price is still low.
I seriously think that there is no connection, not now and not back in the day. I think the biggest reasons are sticking to a price for too long, big money hates staying around the same price so whenever we are at the same prices for too long it starts to move very drastically.
I seriously think that there is no connection, not now and not back in the day. I think the biggest reasons are sticking to a price for too long, big money hates staying around the same price so whenever we are at the same prices for too long it starts to move very drastically.
November 30, 2019, 03:24:24 AM
If BAKKT is not bringing any magic in crypto market then lets forget about it and move on. Time change, maybe its not that so appealing to most institutional investors that’s why it has not attact that much. But still it has to keep going even it didn’t make too much noise.
This is what I always ask, everyone gives rubbish news stories which actually has no effect on the price of bitcoin, so in my opinion what is the importance of the news whether the news has an influence even about the hacking of the market does not affect the price value in the market, so the problem now is to stop read any news about bitcoin, it's time bitcoin is more advanced and developing now without having to care about bad or good news about bitcoin November 29, 2019, 10:44:39 PM
Well, we could consider it a good news but I guess the community will be more excited too see a surge in volume for retail investors which could possibly drive Bitcoin's price upward!
As more and more institutional investors join this Bitcoin foray through futures, I think a consistent growth in its volume could also help Bitcoin become more mainstream. Hopefully that will be the case in this coming months.
As more and more institutional investors join this Bitcoin foray through futures, I think a consistent growth in its volume could also help Bitcoin become more mainstream. Hopefully that will be the case in this coming months.
November 29, 2019, 07:35:53 PM
If BAKKT is not bringing any magic in crypto market then lets forget about it and move on. Time change, maybe its not that so appealing to most institutional investors that’s why it has not attact that much. But still it has to keep going even it didn’t make too much noise.
November 29, 2019, 05:18:58 PM
If they are claiming over 40 million dollar volume most of it has to be fiat because they aren't reporting many bitcoin trades.
I don't think the institutions trading there are really interested in the underlying, but just want to capture the exposure, which is similar to the institutions trading on CME. In case they do want the Bitcoins they can claim them, which is nice. So yes, most of the volume you see Bakkt report is fiat and has nothing really to do with Bitcoin.
The institutions that are really interested in the asset Bitcoin buy big otc to not impact the market unnecessarily. It's the most private and cost effective way of buying Bitcoin in bulk. They do not want you to know that they already own or are buying Bitcoin as we speak, but want you to believe that they are close to entering this market for as long as possible.
November 29, 2019, 03:35:30 PM
On average they are going for around 10-12 million, all of a sudden they had 20 million too, sure we don't know how long this will keep up but if they could turn it into something regular and the volume keeps high that means they have done something correct. If it goes back to 10-12 million and stays there for another long term that means it means nothing.
However, having a 5+ million ATH volume is really valuable right now considering bitcoin is at a low we haven't seen in months. Let's hope it triggers some sort of bull run on bitcoin and price goes above 9 thousand soon once again, we really need that for keep attracting new investors. I mean at least I do, but I am sure whales love buying back cheaper
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However, having a 5+ million ATH volume is really valuable right now considering bitcoin is at a low we haven't seen in months. Let's hope it triggers some sort of bull run on bitcoin and price goes above 9 thousand soon once again, we really need that for keep attracting new investors. I mean at least I do, but I am sure whales love buying back cheaper
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November 29, 2019, 02:54:14 PM
It's much easier to have cash settled instruments approved than those that are backed by Bitcoin. It's safe to say that they aren't looking forward to more of the same delays and legal obstacles.
I expect more financial institutions to bet on cash settled instruments rather than Bitcoin settled instruments, so don't be too shocked when there will be dozens of platforms offering the same type of trading features.
I expect more financial institutions to bet on cash settled instruments rather than Bitcoin settled instruments, so don't be too shocked when there will be dozens of platforms offering the same type of trading features.
Obviously, now that the first few projects came to live it's easier to copy cast than to invent something new. It's the same for all the code copies in cryptocurrencies.
November 29, 2019, 01:07:39 PM
It's much easier to have cash settled instruments approved than those that are backed by Bitcoin. It's safe to say that they aren't looking forward to more of the same delays and legal obstacles.
I expect more financial institutions to bet on cash settled instruments rather than Bitcoin settled instruments, so don't be too shocked when there will be dozens of platforms offering the same type of trading features.
I expect more financial institutions to bet on cash settled instruments rather than Bitcoin settled instruments, so don't be too shocked when there will be dozens of platforms offering the same type of trading features.
November 29, 2019, 07:35:57 AM
Well, yes. The current situation of bulls doesn't seem positive right now cause bulls are mostly in control right now. Bulls took the little chance they got and managed to push for 7.5k, but it doesn't really look advantageous for them right now. Though im mostly hoping for the bulls to be able to fight back before the year ends.
November 28, 2019, 05:23:22 PM
I read that Bakkt wants to introduce fiat settled futures. This would explain why.
If they are claiming over 40 million dollar volume most of it has to be fiat because they aren't reporting many bitcoin trades.
They were trying to be the first backed bitcoin futures market but failed and were faking it all the time and doing it with no backing at the same time trying to introduce the same thing CME already has. What a failure of a business they are. So much hype and so many years spent to get approved just to go back to what the competition was doing 2 years ago.
If they are claiming over 40 million dollar volume most of it has to be fiat because they aren't reporting many bitcoin trades.
They were trying to be the first backed bitcoin futures market but failed and were faking it all the time and doing it with no backing at the same time trying to introduce the same thing CME already has. What a failure of a business they are. So much hype and so many years spent to get approved just to go back to what the competition was doing 2 years ago.
November 28, 2019, 04:02:26 PM
Bakkt has just hit a new all-time high in terms of its daily trading volume. After a meagre start back in September, interest in trading the financial product is finally starting to pick up.
However, the growth in interest isn’t quite the bullish news that many have welcomed it as. A crypto market analyst has reminded those optimistic about the platform’s recent performance that the number of Bitcoin actually changing hands at Bakkt remains close to zero. Just 17 Bitcoin Were “Physically Delivered” in November at Bakkt.
Read more about it here.
However, the growth in interest isn’t quite the bullish news that many have welcomed it as. A crypto market analyst has reminded those optimistic about the platform’s recent performance that the number of Bitcoin actually changing hands at Bakkt remains close to zero. Just 17 Bitcoin Were “Physically Delivered” in November at Bakkt.
Read more about it here.
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