BAKKT launching tomorrow but BTC price falls? - page 4.

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Quote from: maxttilt on September 21, 2019, 11:54:53 PM

Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?

Are investors afraid of a massive dump coming up or what are the possible reasons there isn’t any traction for BTC price ?

Shakeout is a common thing on cryptomarket. Big players doing price manipulation for kick weakhands from market. Big players want more and more bitcoin before price go up.

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Quote from: Haunebu on September 22, 2019, 07:33:58 AM

I don't think that was only because of Bakkt since there were multiple factors involved among which the Facebook crypto(Libra) was the primary motivator.

Libra has nothing to do with Bitcoin, it is just an idea on paper with a high chance of failing. Yet complete ignorance of the good part of the crypto community regarding Libra perhaps influenced the increased demand at one point, but the price is starting to go up in moment someone (Bakkt) is start to pump money in Bitcoin.

Just imagine that today someone starts buying thousands BTC, the price would instantly go up, and we know that people invest in crypto mostly in times when the price is going up. The reason is simple, FOMO short-term profit in times when Bitcoin realizes a significant price increase in a short period of time.

In a time of stability which we have right now, supply and demand are almost equal - it just shows that cheap coins are not too interesting for most investors.

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Quote from: maxttilt on September 21, 2019, 11:54:53 PM

Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?
.........

Basically they said it before the price shitfted positively and the launch was postponed, so, what we are seeing doesn't mean it announcement again for the launch have no traction. The traction will come as soon as they actually launch their program. Personally, the believe that this launch will produce positive results for bitcoin and altcoins is what happened last time they intended to launch. Let keep our fingers across and see what happen later this year or in the year 2020.

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Quote from: Lucius on September 22, 2019, 05:47:43 AM

It seems that Bakkt was the cause of big pump from April this year, when price is jump from $4000 to $14000 in a relatively short time. They allegedly bought 100 000 BTC during that period, and as you say they are ready to play now.

I don't think that was only because of Bakkt since there were multiple factors involved among which the Facebook crypto(Libra) was the primary motivator. Not many are interested in when Bakkt will actually launch anymore due to the delays.

I actually feel like this is a court case being postponed like all other cases. Everyone are hyped for the 2020 halving event which will probably push the BTC value through the roof. It will be worth the wait in my opinion.

Mulann2

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The anticipation of bakkt coming for a long time now has slowly died down, people are not so eager like when it was first mentioned, maybe people are waiting on the sidelines watching to see what will happen before any major movement, nowadays, news and update hardly drive price like before, I guess things are changing.

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Quote from: lightningmelo on September 22, 2019, 06:39:21 AM

If bitcoin has taught me anything is that good news don't necessarily correlate with price increase.

"Buy the rumor, sell the news".

Well said!
Also people tend to forget that Bakkt news were used (or attempted) for pumping the price, almost nobody seems to be impressed anymore.

lightningmelo

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If bitcoin has taught me anything is that good news don't necessarily correlate with price increase.

"Buy the rumor, sell the news".

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Quote from: inthelongrun on September 22, 2019, 12:24:43 AM

I believe Bakkt accumulated a lot of bitcoins already. They are ready to play.

It seems that Bakkt was the cause of big pump from April this year, when price is jump from $4000 to $14000 in a relatively short time. They allegedly bought 100 000 BTC during that period, and as you say they are ready to play now.

People who are waiting that Bakkt launch new pump probably waiting in vain, how it seems now September 23 will not change anything in terms of price. It remains to be seen whether there will be any positive effects in the coming months, and depending on how this project will evolve, price impact may occur again when/if Bakkt start to buy BTC again.

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Quote from: Baofeng on September 22, 2019, 01:06:53 AM

Quote from: maxttilt on September 21, 2019, 11:54:53 PM

Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?

Are investors afraid of a massive dump coming up or what are the possible reasons there isn’t any traction for BTC price ?

I guess no one is really excited about bakkt, or there are manipulators behind and push the price a bit so that they can buy cheap coins prior to the bakkt launch. Anyways, this bakkt offering is long overdue and people are not that very enthusiastic and eager to say the least. But we will see the impact in the long run though, it's supposed to be the next catalyst for a bull run so let's stay relax for now and see how it goes.

As always is the case, before every bull run we see an unexpected dump. Lets hope this is the last dump and we move upwards after this. BAKKT is a big platform and there are chances that we see big increase in the overall market cap.

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Quote from: maxttilt on September 21, 2019, 11:54:53 PM

Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?

Are investors afraid of a massive dump coming up or what are the possible reasons there isn’t any traction for BTC price ?

I guess no one is really excited about bakkt, or there are manipulators behind and push the price a bit so that they can buy cheap coins prior to the bakkt launch. Anyways, this bakkt offering is long overdue and people are not that very enthusiastic and eager to say the least. But we will see the impact in the long run though, it's supposed to be the next catalyst for a bull run so let's stay relax for now and see how it goes.

davis196

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Perhaps the crypto whales are just selling in order to push the price down,so they could buy at a cheaper price later,right before the bull run starts.The market was "sleeping" during the last three weeks.I hope that some event will wake the traders up and the price volatility will return.I don't rely that much on Bakkt to bring any new investors to bitcoin.

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Quote from: virasog on September 22, 2019, 12:17:56 AM

Quote from: maxttilt on September 21, 2019, 11:54:53 PM

Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?

Are investors afraid of a massive dump coming up or what are the possible reasons there isn’t any traction for BTC price ?

Do not worry, the prices will be up again. As you know in crypto, the prices rises on the basis of the news and more often dump on the actual event day. The same is happening with bitcoin prices currently. I am sure once the actual trading will start at Bakkt, it will be hard to find bitcoin again at 10,000 Dollars.

Because Bakkt is supposed to launch December of last year. If you guys noticed, bitcoin price continous to went up slowly. I believe Bakkt accumulated a lot of bitcoins already. They are ready to play.

But Bakkt is good for bitcoin. We just need patience because more Wall Street players are here.

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Quote from: maxttilt on September 21, 2019, 11:54:53 PM

Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?

Are investors afraid of a massive dump coming up or what are the possible reasons there isn’t any traction for BTC price ?

Do not worry, the prices will be up again. As you know in crypto, the prices rises on the basis of the news and more often dump on the actual event day. The same is happening with bitcoin prices currently. I am sure once the actual trading will start at Bakkt, it will be hard to find bitcoin again at 10,000 Dollars.

maxttilt

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Why isn’t the official launch of BAKkT driving btc prices up but instead it’s going the opposite way?

Are investors afraid of a massive dump coming up or what are the possible reasons there isn’t any traction for BTC price ?

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