Bakkt Launching Cash-Settled Bitcoin Futures Contracts in Singapore

scopatumana

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Quote from: cheezcarls on November 21, 2019, 11:18:22 PM

I don't know what to say guys, but is this going to impact Bitcoin? Or not at all? Being the first-ever to offer Bitcoin futures trading, it doesn't guarantee much that the market would really make an impact.

Oh yeah it definitely has a great impact on Bitcoin taking into consideration it's price and adoption. You're right about the fact that the first announcement of ICE futures didn't go with the hype that was expect but let's refocus the discussion in the long-term. The mainstream wants someone they can trust before they'll join the train and ICE has made sure of that. Now, imagine they get various investors from various countries to join and then one big news happen. everything is gonna be "crazy." At that time, those who're not yet in will even come more than what we experienced before because by then they'll find regulated means to get in.
So the long story short is that, every little adoption counts to the mass adoption we've been hungry for..

CryptoBry

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Quote from: cheezcarls on November 21, 2019, 11:18:22 PM

Right now, there is a possibility that the support of $7,400 can be broken due to the news about Binance's office getting raided by Shanghai authorities. Although Bakkt could bring legitimacy to blockchain, Bitcoin and other cryptocurrencies, I honestly believe it won't make such an impact in the crypto market right now. But maybe in the long run, it could be possible but no guarantees.

Just like the time when Bakkt started, the impact of the things that this platform is offering to the public can not be felt here and now but will be a slow process. And that is actually good since we are already tired of this sudden up and sudden down nature of this asset. Bakkt is about the long-term much more so that we are talking here of institutional investors. On a personal level, am now believing that platforms like Bakkt and even the famous ETFs in case they can be approved by SEC will not be helping Bitcoin grow tremendously but will instead limit its growth.

Talking about that Binance debacle. Thinking about it right now, I could not really believe that until now even if China has not yet recognized Bitcoin and cryptocurrency, the country still has a big impact on this industry. I don't understand why would Binance will not first seek all the clearance from the government before doing an operation in China. These guys are just courting a big disaster and now it is affecting all of us. What a crap!

cheezcarls

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On Thursday, November 21, the Intercontinental Exchange, Inc (ICE), revealed that Bakkt is prepping to launch Bitcoin to USD settled Futures on December 9.

As you may know, Bakkt was big for being the first platform to offer futures settled in actual Bitcoin, which, to many, brought some sort of legitimacy to the cryptocurrencies, blockchain, and more. However, offering Bitcoin to USD settled Futures, to some, represents them going back on that notion.

Source link here

I don't know what to say guys, but is this going to impact Bitcoin? Or not at all? Being the first-ever to offer Bitcoin futures trading, it doesn't guarantee much that the market would really make an impact. Like we expected in the first place that Bakkt could make Bitcoin's price spike, it didn't happen. It goes the other way around from $11k+ to below $10k before slowly climbing back up.

But that was back then.....

Right now, there is a possibility that the support of $7,400 can be broken due to the news about Binance's office getting raided by Shanghai authorities. Although Bakkt could bring legitimacy to blockchain, Bitcoin and other cryptocurrencies, I honestly believe it won't make such an impact in the crypto market right now. But maybe in the long run, it could be possible but no guarantees.

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