Topic: Bakkt released September 23 Is it going to pump or dump the price? (Read 743 times)
October 06, 2019, 09:07:40 PM
Have released for Bakkt about bitcoin respond with world economic where bitcoin still not get positive from many government and bitcoin price still down and lower, we need some thing big how to build basic of bitcoin foundation to make many government want to adopt and give regulation for bitcoin become digital transaction.
October 03, 2019, 08:33:49 AM
The people who were hyped about Bakkt was not the institutional investors, but rather the current hoarders/speculators in the Bitcoin scene. These people had unrealistic expectations about the Billions of dollars that might be invested into Bitcoin futures on the day of the launch and that was simply not realistic at all.
Institutional investors look for stable investments with high returns and a manageable risk to protect investment money that might be used for pension funds. They are not risk takers with high risk investments and they prefer cash settled investments and not something that are settled with actual assets.
Ding, ding, ding, we have a winner.
Institutional investors need to have a reason to buy bitcoin. Two years ago there was the promise that a proper eco-system would be built with ecommerce accepting bitcoin and so on. And nothing has materialised. And that is why new money is reluctant to enter the space.
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
October 03, 2019, 05:48:12 AM
Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.
It is impossible to take into account the order books of all exchanges, hidden orders, bots, OTC-orders as well as strong psychological resistance at the 'over 9000' level.
Not to mention that crypto spoofing is still common. In general, looking at the walls is bad idea.
I am worried about the bot that will cause the price is up and down without any order fills. It could make some traders cannot focus on their buy or sell price, and that could make a mistake to them. But I realize that is what happens with the market and I hope that the traders know how they should do. Well, we need to wait for a while for what will the whales do related to the market, and if somehow, they are making an order buy or sell, then the price will be changed too.
October 02, 2019, 01:02:23 AM
I still highly doubt that the dump was caused by people being upset about the volume of bakkt. I mean if there was so much attention to bakkt that people bought bitcoin with the hopes that bakkt would go super high in volume and would be hyped like hell, than there would be some people who would also be hyped about bakkt itself.
The people who were hyped about Bakkt was not the institutional investors, but rather the current hoarders/speculators in the Bitcoin scene. These people had unrealistic expectations about the Billions of dollars that might be invested into Bitcoin futures on the day of the launch and that was simply not realistic at all.
Institutional investors look for stable investments with high returns and a manageable risk to protect investment money that might be used for pension funds. They are not risk takers with high risk investments and they prefer cash settled investments and not something that are settled with actual assets.
October 01, 2019, 09:41:52 PM
Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.
It is impossible to take into account the order books of all exchanges, hidden orders, bots, OTC-orders as well as strong psychological resistance at the 'over 9000' level.
Not to mention that crypto spoofing is still common. In general, looking at the walls is bad idea.
October 01, 2019, 03:51:30 PM
I still highly doubt that the dump was caused by people being upset about the volume of bakkt. I mean if there was so much attention to bakkt that people bought bitcoin with the hopes that bakkt would go super high in volume and would be hyped like hell, than there would be some people who would also be hyped about bakkt itself.
Having a hype about bakkts volume and impact on bitcoin but having absolutely no interest towards bakkt itself doesn't seem that plausible to me, at least not at this level, we have literally fell like 20%+ in bitcoin price, nothing got that much hyped about bakkt at all. It is still a decent possibility that there was a whole whale that got fed up with bitcoin or had to cash out for something and he just got rid of his bitcoins for something else.
Having a hype about bakkts volume and impact on bitcoin but having absolutely no interest towards bakkt itself doesn't seem that plausible to me, at least not at this level, we have literally fell like 20%+ in bitcoin price, nothing got that much hyped about bakkt at all. It is still a decent possibility that there was a whole whale that got fed up with bitcoin or had to cash out for something and he just got rid of his bitcoins for something else.
September 30, 2019, 01:22:09 PM
Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.
Between $8k and $10k we have various moving averages algorithms will sell at, plus we have fresh sub $9k buyers who will be dumping their coins the moment we see the price make a move up. Whales aren't cooperating with each other.... when one whale tries to pump the price, other whale(s) will dump it back down. Similarly, an attempted move to dump the price will be bought up. It's whale versus whale versus the smaller fishes.
Also, whales aren't going against the trend without there being a good reason for it. The trend has been down and I'm sure it will be respected until we find support somewhere and mark that price as bottom.
September 30, 2019, 12:38:24 PM
What last week have discuss bakkt before and what they are talking about in 23 September, but we need good respond from economic world to accept bitcoin as their payment transaction.
One week later, but where are we? Sure the price is rising steadily but only because it is recovering from last week.Where people have stated it wasn't bakkt to blame for the dump of nearly 23% in total on the price.
September 29, 2019, 10:01:51 PM
What last week have discuss bakkt before and what they are talking about in 23 September, but we need good respond from economic world to accept bitcoin as their payment transaction.
September 29, 2019, 02:22:39 PM
By the logic, that whales do what the opposite of public thinks bitcoin will do, we can expect a rise very soon. Right now, everyone thinks that bitcoin is on a bear run and the price keeps going down and down which means eventually it will hit bottom, but reality is we dropped to $8k and stayed there, we are not going any further down as it looks and if people keep thinking that bitcoin will be $3k like last time than whales could allow people to sell and they would buy and buy and buy to have more and more bitcoins and as soon as they feel like the sells are slowing down they will buy more from the order book and increase the price back to $10k very easily.
Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.
Right now, there is not a big wall between $8k and $10k, so if whales wanted to get it back up it would be super easy for them.
September 29, 2019, 11:22:54 AM
Hard to say if there is a cause / effect relationship, or the fall of the bitcoin (in fact of the whole crypto sector) it was just a coincidence. Of course it's something to think about.
September 29, 2019, 09:01:08 AM
I am wondering when it is launched on monday will it pump up the price or drive it down?
I haven't seen any pump since the Bakkt was released...instead the market price of every coin started to fall. Bitcoin even fell down to $7k. The price started going up yesterday , so I wouldn't say that the increase has anything to do with Bakkt. All these things are not contributing in any way, the price will only go up when the right time comes, and not because of any of these. Just like it did in April ,the price increased just for no reason and people couldn't guess what caused the price to increase. That's how it is.the hype in the real world was not as much as the hype was here in the forum and not many forum people have participated in the platform
That's how it is, things get hyped in the forum and when it comes out, nobody will show interest in it. All these hyped are just for nothing, those who do this hype of a thing are mostly the ones that are doing nothing. They just hype and then stay by the side and watch ,doing nothing. I wasn't even counting on this Bakkt to have any effect in the price of Bitcoin or the crypto market in general. I didn't even know the date it was released because I wasn't interested to know. September 28, 2019, 08:39:24 PM
It will definitely cause a pump but not this late. The news is not new anymore. The news released a couple of months ago was already recycled so to speak. The news of Bakkt offering Bitcoin futures has already been talked about more than a year ago. That has already affected the price of Bitcoin. Right now, it would either be selling time or just the status quo, no large spikes happening. But since this is Bakkt, owned by the owner of NYSE, the largest stock exchange in the world, this will certainly do good rather than bad, albeit in the longer term.
With the launch of Bakkt last Sept. 23, 2019, it has indeed given the bomb to many and those who believe its positive for the price of bitcoin, right! because of that bomb, many were alarmed by the sudden decline in Bitcoin's price and were followed by other altcoins that almost all were potential but also collapsed. But we only hold or if there is a buyer, we also take advantage while the price is low then hold.
September 28, 2019, 05:52:07 PM
I think that when Bakkt was released, it would tend to be positive, but that was only part of me having an older brother who put a lot of money into Bakkt, but my brother didn't get anything back because of that. Bakkt's future will probably go down if this situation is still negative, and I want Bakkt to encourage more customers by doing so, the future of Bakkt will be more likely to grow.
September 28, 2019, 04:59:08 AM
The result was found right,the prices got dumped when everyone want that to bump.
Don't just go with the flow,have some statistics of whale's mind they will go other way to make profits from real bitcoin investors.
Don't just go with the flow,have some statistics of whale's mind they will go other way to make profits from real bitcoin investors.
September 27, 2019, 06:16:35 PM
To make things worse than ever, Bakkt has genuinely created the bear market. The bear market is going on for days and Bitcoin has dropped $ 3000. Can it continue to dump down to $ 5000? People are scared of what is going on, Bakkt is one of the worst events this year? Am I thinking that I am transferring all Bitcoin to Bitcoin cash?
We wouldn't know on whats the actual reason of the sudden price dump of this month alone.We have seen the worst in the past and we cant say that it wont happen again.If the said price movement will be the same on or remain on upcoming days or months to come then expect we would head down to those levels or even lower.No one knows because this is how crypto market moves.Nothing is surprising if you were here for years on this market this would just act like a typical or casual thing to be seen.
And to pinpoint Bakkt situation as the main reason of this dump is I think not fair at all.
The current decline of price is the combination of several reasons like the bitcoin auction, the sell out of the large number of bitcoin and others.
Every movement is the combination of different reasons and it is always a part of this market.
Up and down movement is a normal one in crypto.
Like many other have said, we are in the volatile market so we will be in the roller coaster mode for much longer time.
September 27, 2019, 04:44:57 PM
I do think the bakkt launch is at least part of the reason for the market-wide price drops. It seems like an over-reaction however. Perhaps it caused a slight dip which was then made worse by people jumping in and panic-selling. Whatever, it doesn't seem like the news should be sufficient to trigger the scale of fall that we've seen. I expect that we will see a recovery soon.
I also do not think that the launching of BAKKT affects the market, good or bad. The theme of BAKKT is so much talked about that it has lost its importance and we have stopped seeing it as a major development. At least it is not even convincing to think that this has a negative impact on the market. There must be something different affecting the market. September 27, 2019, 03:45:35 PM
There is now a fake bakkt giveaway making the rounds.
https://bitcointalksearch.org/topic/warning-fake-bakkt-giveway-website-5187901
When there is blood in the water it's when the sharks come out wanting to bleed out investors even more.
https://bitcointalksearch.org/topic/warning-fake-bakkt-giveway-website-5187901
When there is blood in the water it's when the sharks come out wanting to bleed out investors even more.
September 27, 2019, 12:46:01 PM
As for now the price went down but I wouldn't connect that with Bakkt. It's usual correction that is triggered by something else.
I know that many hoped Bakkt will influence on price rise, in significant range even but that didn't happen and I don't think that is going to, can't see what would be the mechanism. So I guess many are disappointed.
I know that many hoped Bakkt will influence on price rise, in significant range even but that didn't happen and I don't think that is going to, can't see what would be the mechanism. So I guess many are disappointed.
Anyhow, Bakkt affected the crypto prices also. If it is true, then, it will be a temporary fall in the market, and everything will be OK in several days. (at least the fall can be stopped). There is no much activity on this Bakkt now, and it is not the stuff that was expected. Probably, when this situation changes, the cryptocurrencies market will also run up quickly. Let us simply wait.
September 27, 2019, 02:40:50 AM
Well, it literally had no affect at all. I am quite sad because I really was looking to go above 10k, it is not even a big deal because over 10k is something we can easily achieve but Bakkt failed even doing that, the first day usually is the most active day because the people who have been waiting for this for a long time all come together and do their bids whereas on the first day ever Bakkt failed miserably, which goes to show all of us that Bakkt was a empty bubble that meant nothing and we got excited for basically something that makes no moves at all.
Hopefully, something better comes along soon and the price goes up, the investors are getting tired of the same trend moves up and down and we really need another big hype to make it above 12k again so investors can hold on to some more hope.
It was based on your assumption that you really feel people have been waiting. Who are the ones waiting? Is it not us? Most of the people that were waiting were investors who already had their investment and just hoping that the platform would do some hype and increase the investment.Hopefully, something better comes along soon and the price goes up, the investors are getting tired of the same trend moves up and down and we really need another big hype to make it above 12k again so investors can hold on to some more hope.
If people were actually waiting for the bakkt platform to release, how come it was only 7 btc that they traded on their first launch, which means the hype in the real world was not as much as the hype was here in the forum and not many forum people have participated in the platform, so who are the people that you were even expecting ought to have bombarded the bakkt platform because for me, I have no need for it and I am sure you really don’t too.
Jump to: