Bakkt released September 23 Is it going to pump or dump the price? - page 2.

juperos

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Quote from: akirasendo17 on September 26, 2019, 07:22:49 PM

Bakkt release and the whale who sold his bitcoin and the panic of the people who bought their token when it was like 10k usd , is the reason, and the news that are circulating make it worse
the price will probably go down but not really deep because if it happens I think one of the top 5 coins might take over at the top 1
we might see a down trend for the next few days before it recover
we hope this will not fall to 3000 usd because it will not be good

We cannot expect anything in the financial markets, everything is possible and I have seen some experts in my team argue that Bitcoin will soon drop to $ 6k4 and ETH. is 13x $.
We should be prepared psychologically for a bear market, do not rush to trade at this time.

akirasendo17

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Bakkt release and the whale who sold his bitcoin and the panic of the people who bought their token when it was like 10k usd , is the reason, and the news that are circulating make it worse
the price will probably go down but not really deep because if it happens I think one of the top 5 coins might take over at the top 1
we might see a down trend for the next few days before it recover
we hope this will not fall to 3000 usd because it will not be good

ethereumhunter

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Finally, we know what was happen after Bakkt released. The lowest price in the Poloniex was at $7766, Bittrex was at 7750, Binance was at $7750. I guess these situations will continue because if I see on the Daily trade in those exchanges, I see the trend still going down so the price will go down for a while. But we could hope that the support can hold the price not to go down too deep, but if it should go down, then I think the price could reach $7700-$7500. But I hope I wrong.

figmentofmyass

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Quote from: Cnut237 on September 26, 2019, 07:52:23 AM

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.

news rarely causes anything but it can trigger or intensify market moves that were probably gonna happen anyway. put another way---the market was already looking for a reason to dump.

it happened so abruptly because so many sellers were already waiting in the wings---stops were run, margin calls were executed on high leveraged positions, and panic selling ensued because the market made the first new lows in months.

Oilacris

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Quote from: ?? on ??

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.

UNOE

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Quote from: dunfida on September 24, 2019, 04:17:18 PM

Quote from: UNOE on September 24, 2019, 10:23:20 AM

Quote from: cosmofly on September 24, 2019, 09:53:11 AM

Bitcoin's decline has affected Bakkt's launch.
Bakkt's trading volume on the 23rd was too low, about $ 720k, which is a very small number, lower than the altcoins in the top 100.
This is one of the very bad signs of the market, this shows the psychology of speculators are depressed. Will the market continue to dump? anyone agree with me ?

I agree with you there but we can not say it due to the launch of the platform because even with more BTC being added to the volume on bakkt,
the price continues to decrease and is below $9525 while I am posting.
There has to be another underlying factor at play here because it shouldn't continue to dive down $200 a time.
Which is strange from its rise up and its sideways movement over the past six months.

We are not on $8300 as we speak and it is heading way down too fast and might able to break up that 8k support. We might even able to see 7k price range once again if this one would continue on this phase.I didnt expect that it do head down way too fast.Im not expecting too much on Bakkt and we can precisely point out that this is the main reason of such dump or not.We are heading now Bois!

Quote from: Cnut237 on September 26, 2019, 07:52:23 AM

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.

Even the founder of bakkt was worried about what it would do to the market on Monday. So in saying this he was not 100% sure it would be best for bitcoin to even release their product to the public.
https://dailyhodl.com/2019/09/22/bakkt-founder-nervous-about-mondays-launch-says-intense-curiosity-must-turn-into-demand/

Yatsan

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Quote from: el kaka22 on September 26, 2019, 11:26:16 AM

Quote from: Cnut237 on September 26, 2019, 07:52:23 AM

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.

Bakkt literally doesn't have enough volume to make bitcoin go down like this, these guys didn't get 1% of the total volume, how could they potentially be the reason for the bitcoin dropping this quickly, sure they may have that option when they go big enough and be like 5%-10% of all bitcoin volumes one day but if they can't manage to do that or at least can't do it now so it makes no sense that cause would be them.

I would personally put the blame on the manipulators who saw that bitcoin price was prime to go up so they dropped the price a bit, maybe it will go down even more and for couple months bitcoin will be same but eventually after a while they will let the brakes go and we will move up just like 3k to 10k time.

The volume of bakkt is noticeably low than anticipated but let us not overreact on that, why? because bakkt is created for long term use. They have these daily and monthly future contracts and still pursuing new investors to put height on their price estimation. Bitcoin dumps a thousand of its current price after the bakkt officially launched, did bakkt affect it? Yes, because cryptocurrency is very specualtive when it comes to the market and 80% or more of market is not regulated. We expected high on this event even we're uncertain, this kind of event already happened, don't be surprise.

el kaka22

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Quote from: Cnut237 on September 26, 2019, 07:52:23 AM

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.

Bakkt literally doesn't have enough volume to make bitcoin go down like this, these guys didn't get 1% of the total volume, how could they potentially be the reason for the bitcoin dropping this quickly, sure they may have that option when they go big enough and be like 5%-10% of all bitcoin volumes one day but if they can't manage to do that or at least can't do it now so it makes no sense that cause would be them.

I would personally put the blame on the manipulators who saw that bitcoin price was prime to go up so they dropped the price a bit, maybe it will go down even more and for couple months bitcoin will be same but eventually after a while they will let the brakes go and we will move up just like 3k to 10k time.

Cnut237

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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.

shoreno

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Quote from: justdimin on September 25, 2019, 11:24:33 AM

Well, it literally had no affect at all. I am quite sad because I really was looking to go above 10k

it might not have a positive effect on the price but negative effect maybe ? because the price seem to decline more where its supposed to be pumping as what people expected or it maybe whales are playing tricks with us and they intend to counter the positive effect that bakk could bring . hmmm Huh

Quote from: justdimin on September 25, 2019, 11:24:33 AM

- snip -

lessoned learned , dont expect too much when there is an upcoming events like this because it can only give you a disapointment if ever your expectation dont occur .

andreibi

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Quote from: justdimin on September 25, 2019, 11:24:33 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's not all about hype. It is the market's perception of adoption and continued development. Bakkt is positive news for those in the "crypto must be regulated in order to be accepted by many" camp. However, it seems no institution is interested in trading Bitcoin so far.

justdimin

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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.

exstasie

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Quote from: Kakmakr on September 24, 2019, 05:33:20 AM

Does anyone know how the Bakkt price of their coins in their warehouse, would correspond to the Bitcoin price on the open market? Will they base the price on some US regulated exchange prices or will they determine their own price, not linked to the Bitcoin price on the open market?

Their own price. Since Bakkt offers access to real bitcoins, their prices are directly linked to the spot market because of arbitrage. No price index is needed.

Quote from: Kakmakr on September 24, 2019, 05:33:20 AM

The SEC was worried about price manipulation from external markets, so I presume this was solved if they approved the application for Bakkt?

Bakkt's products are commodity futures, not securities. The CFTC regulates them, not the SEC.

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Quote from: Febo on September 24, 2019, 01:15:34 PM

Quote from: UNOE on September 21, 2019, 09:33:46 PM

Bakkt released September 23 Is it going to pump or dump the price?

Thy are emptying their Bakkt Bitcoin warehouse. They filled it at the begining of year with cheap $3000 Bitcoins and now are selling those and making great profits.

This could be the reason but also there was a ruling by the sec yesterday being felt today with a denial of icobox to continue doing their business in securities and are suing the start up.
This and the launch of bakkt was set days apart and just made a perfect storm for what is happening with the price right now. Sad

ene1980

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Quote from: UNOE on September 21, 2019, 09:33:46 PM

The price has decreased about $400 from yesterday so by monday when it officially launches will it have it soar past what it was just 48 hours ago?
I have a feeling it will have a flat effect on the price and might possibly dip lower due to high expectations being dashed out.

This is exactly what is happening in the market as the market keeps on falling and i wonder how long it will go like that, amazed that a hype train could hold the market for such a long time at a range and once released it keeps on falling, there are other articles surrounding the market regarding the hash drop, whether it has anything to do with the current stage is yet to be known.

dunfida

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Quote from: UNOE on September 24, 2019, 10:23:20 AM

Quote from: cosmofly on September 24, 2019, 09:53:11 AM

Bitcoin's decline has affected Bakkt's launch.
Bakkt's trading volume on the 23rd was too low, about $ 720k, which is a very small number, lower than the altcoins in the top 100.
This is one of the very bad signs of the market, this shows the psychology of speculators are depressed. Will the market continue to dump? anyone agree with me ?

I agree with you there but we can not say it due to the launch of the platform because even with more BTC being added to the volume on bakkt,
the price continues to decrease and is below $9525 while I am posting.
There has to be another underlying factor at play here because it shouldn't continue to dive down $200 a time.
Which is strange from its rise up and its sideways movement over the past six months.

We are not on $8300 as we speak and it is heading way down too fast and might able to break up that 8k support. We might even able to see 7k price range once again if this one would continue on this phase.I didnt expect that it do head down way too fast.Im not expecting too much on Bakkt and we can precisely point out that this is the main reason of such dump or not.We are heading now Bois!

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We would not really know what could lead to price increase of bitcoin because bitcoin is an unpredictable coin, ok look at recently the hype was everywhere that the bakkt will add some value to bitcoin, I expected that it would have been a motivating factor for some investors to start putting in money ahead of the increase, but rather than seeing any increase, the price plunged by $400, this alone sent signal to me that we may not really see much difference in bitcoin price because of the release of bakkt, but there is still time though.

The platform is a new one and just launched, I believe that as time proceeds, we will surely see if this is going to have some effect on the price of bitcoin, but beyond bakkt, I know that there is still going to be an increase in the price of bitcoin soon because we are much due for the bull run.

Febo

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Quote from: UNOE on September 21, 2019, 09:33:46 PM

Bakkt released September 23 Is it going to pump or dump the price?

Thy are emptying their Bakkt Bitcoin warehouse. They filled it at the begining of year with cheap $3000 Bitcoins and now are selling those and making great profits.

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Quote from: mu_enrico on September 22, 2019, 07:40:46 AM

I think a repeated story like this wouldn't have a significant effect on the price movement.

Oops, I admit I was wrong to predict the "no-effect" hypothesis. Honestly, it's surprising that the price dump quite deep just because of BAKKT (or is it?)

Quote from: JayJuanGee on September 24, 2019, 10:34:19 AM

I would speculate that there must be decent BTC price support between $9k and $9,200 - otherwise if $9k is broken then maybe we could see ourselves at least having to test support in the $8k to $8,500 range.

I agree with you mate, the more frequent price tests the support line, the higher the probability of it breaks.
Now the momentum is in the bearish area.

Maybe the 9K-10K price range was the anticipation for BAKKT, and now the price will be heavily deflated.

*not a financial advice, dyor & dwyor

FlamingFingers

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As we all can see, Bakt has no much positive value in increasing the price of bitcoin
I was expecting an upsurge in price but to my surprise the price of bitcoin keeps going down, I guess the hype of Bakt was way too much than the expected outcome

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