Topic: Bakkt released September 23 Is it going to pump or dump the price? (Read 749 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.
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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.
September 26, 2019, 10:31:22 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 $.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 should be prepared psychologically for a bear market, do not rush to trade at this time.
September 26, 2019, 06:22:49 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
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
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September 26, 2019, 06:13:37 PM
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.
September 26, 2019, 05:54:52 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.
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.
September 26, 2019, 05:11:58 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.
September 26, 2019, 03:05:15 PM
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,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 ?
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.
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/
September 26, 2019, 11:02:25 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.
September 26, 2019, 10:26:16 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.
September 26, 2019, 06:52:23 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.
September 25, 2019, 10:46:44 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 
- 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 . September 25, 2019, 10:29:08 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.
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.
September 25, 2019, 10:24:33 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.
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.
September 25, 2019, 01:10:48 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.
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.
September 24, 2019, 05:58:38 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 and the launch of bakkt was set days apart and just made a perfect storm for what is happening with the price right now.
September 24, 2019, 03:58:07 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. 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.
September 24, 2019, 03:17:18 PM
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,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 ?
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.
September 24, 2019, 03:08:05 PM
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.
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.
September 24, 2019, 12:15:34 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.
September 24, 2019, 11:52:14 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?)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
September 24, 2019, 10:59:45 AM
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
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
September 24, 2019, 09:34:19 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 ?
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 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 never proclaim to have any soothsaying abilities, so I just go with the flow, including recently having my buy orders set at fairly small increments, so lately with our recent dumpenings my buy orders have been hitting fairly consistently and regularly.
September 24, 2019, 09:23:20 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,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 ?
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.
September 24, 2019, 08:53:11 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 ?
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 ?
September 24, 2019, 06:22:00 AM
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.
September 24, 2019, 04:33:20 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?
The SEC was worried about price manipulation from external markets, so I presume this was solved if they approved the application for Bakkt? They wanted 100% regulation and they got it through this venture.
Please quote the source, if you can answer the question.
The SEC was worried about price manipulation from external markets, so I presume this was solved if they approved the application for Bakkt? They wanted 100% regulation and they got it through this venture.
Please quote the source, if you can answer the question.
September 24, 2019, 02:28:46 AM
It can't cause a dump because it's coming in with empty hands. You need to have coins first to be able to dump them into the market.
Bakkt won't dump, but the 'buy the rumor sell the news investors' will, which doesn't really seem to be the case right now because it's already calculated in the price already. In other words, news is sold already.What we experience right now is normal price activity, which is just as bearish as it has been for the last couple of weeks. If we dip below $9.6k, I expect another touch $9.3-$9.4k touch which is the horizontal support level of the current formation.
I expect a full break any time soon that will bounce up from $8.5 to possibly $9k to continue making lower lows after some sideways consolidation. Bitcoin's chart looks like it wants to make lower lows badly.
I was also one the many who hopes that Bakkt will bring the btc price to the new level and I was waiting for a year for this to happen but now I'm just really disappointed. Maybe you are right that the rumoured was already bought at the same time where bitcoin has rose $3k to $12k. And I'm also afraid that the halving news catalyst price pump has already happened this year instead of next year but that's just my speculation because I don't know what else would get us to moon and reach new highs.
September 24, 2019, 01:46:40 AM
Having this on every crypto minded individual since release of the news broke a couple of months ago I am wondering when it is launched on monday will it pump up the price or drive it down?
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
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.
Just like when you go into a movie but get out feeling disappointed from what you expected it to be due to it being overhyped.
This can also happen in crypto too with the ICO and IEO have shown us.
The hype up and then the sell off of those coins driving the price down, down , down.
upload
In my opinion, we have reached the tipping point now where Bitcoin has really established itself despite what naysayers may say and is here to stay. In the next 5 years, Bitcoin is going to end up being in every institutional investor’s portfolio.https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
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.
Just like when you go into a movie but get out feeling disappointed from what you expected it to be due to it being overhyped.
This can also happen in crypto too with the ICO and IEO have shown us.
The hype up and then the sell off of those coins driving the price down, down , down.
uploadAs for Bakkt, as with most regulated futures contracts, the adoption on the first day is not really that amazing because of the lackadaisical clearance approach by most futures brokers. So I predict that Bakkt will be met with cynicism from most people who will adopt a wait and see approach rather than going all in at once.
In short, Bakkt is going to drizzle then Flood!
September 23, 2019, 06:28:58 PM
It can't cause a dump because it's coming in with empty hands. You need to have coins first to be able to dump them into the market.
Bakkt won't dump, but the 'buy the rumor sell the news investors' will, which doesn't really seem to be the case right now because it's already calculated in the price already. In other words, news is sold already.What we experience right now is normal price activity, which is just as bearish as it has been for the last couple of weeks. If we dip below $9.6k, I expect another touch $9.3-$9.4k touch which is the horizontal support level of the current formation.
I expect a full break any time soon that will bounce up from $8.5 to possibly $9k to continue making lower lows after some sideways consolidation. Bitcoin's chart looks like it wants to make lower lows badly.
September 23, 2019, 04:48:33 PM
Having this on every crypto minded individual since release of the news broke a couple of months ago I am wondering when it is launched on monday will it pump up the price or drive it down?
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
Consider the theory "buy the rumor, sell the news." When Bakkt announced the launch date in mid-August, we bounced about $1,500. People bought the rumor. Will they also sell the news?
On the higher time frames (weekly and monthly) the market is coiling for an upside breakout. In that sense, the Bakkt launch could act as a catalyst. I sort of doubt it though. Based on the current price action and indicators, I think we'll have to wait another week or more before bulls start retaking control.
https://www.youtube.com/watch?v=1qhENqoFrVI
September 23, 2019, 01:49:28 PM
Didn't Bakkt launch last night at 8pm EST? That's what I read in the Forbes article that was linked to in some other thread.
Or in other words, 12AM UTC/GMT on September 23rd.
Anybody know if this is actual bitcoin that changed hands or if it was some sort of derivative? Anyway, I would have expected a much bigger amount for the first day of a new platform that's supposed to be for big-money players. I'll definitely keep my eye on this.
Rome wasn't built in a day. I expect volume to steadily grow. People clowned CME for their volume at launch too but it steadily grew over 2018 and exploded in April/May this year.
These are derivatives but each contract is worth 1 BTC. Unlike the CME market they can be physically withdrawn (like spot BTC) after settlement.
September 23, 2019, 01:04:17 PM
Well, this issue of bakkt is not new, we had heard this before just months passed but until now it pumps but not huge. This news is essentially recycled and now what will the cause of bitcoin pump upon the opening of bakkt. I believed that bakkt don't have an effect on the market situation, I think as what I have seen in coins market cap bitcoin was dropped slowly and there is no sign of having a pump side. Indeed, let us just wait furthermore result, strong hands will always have benefits.
September 23, 2019, 11:24:07 AM
The low volume we're witnessing is a sign of anticipation and uncertainty. Investors are waiting for Bakkt (or its investors) to make the first move. However we look at this, bakkt is a positive news and it will either do nothing or increase the value. It can't cause a dump because it's coming in with empty hands. You need to have coins first to be able to dump them into the market.
September 23, 2019, 10:46:14 AM
Didn't Bakkt launch last night at 8pm EST? That's what I read in the Forbes article that was linked to in some other thread. I had preev pulled up in a tab to check the price after it went live, and it didn't really do much of anything--and as I write this, bitcoin has dropped (marginally) to $9862.
28 btc traded on bakkt right now.
The above quote was only written a couple of hours ago, and yeah I'd have to agree that this isn't a huge amount. Anybody know if this is actual bitcoin that changed hands or if it was some sort of derivative? Anyway, I would have expected a much bigger amount for the first day of a new platform that's supposed to be for big-money players. I'll definitely keep my eye on this.When there is buying interest, the ideal is that the price will lower it, because Strong Hands always buy is Cheap, they never buy expensive.
I guess that's true....but as with any market, there's always a lot of buying and selling going on regardless of the price. You'll always get someone who'll want to buy something in a free market. 
September 23, 2019, 10:39:47 AM
When there is buying interest, the ideal is that the price will lower it, because Strong Hands always buy is Cheap, they never buy expensive. Since the BAKKT has already started, the impact on the market has not been as direct or as instantaneous. What can also happen is that there are new investors, and the price for now may not matter to them and they begin to buy progressively without lowering it, everything is a matter of waiting as time goes by.
September 23, 2019, 10:36:41 AM
Well, it is a recent thing and we can now finally see how big or small Bakkt is, I have always supported that bakkt was nothing at all and the price wouldn't be changed but we will actually see it now, if the price goes over 12k somehow I would agree that I was wrong, I would even include over 11k if it gets there a bit higher, like 11.5k or whatever instead of just 11.1k but at the end of the day if it goes to just 10.8k or something that is something bitcoin always does, it goes under 10k than goes over 10k and has done that multiple times in the past 3 months if you have been around, that is why I need it to go above like 11.5k so that I can say Bakkt made some difference but I doubt that will happen, I would go as far as saying I would wager on bitcoin price to not go above 12k in the next week.
September 23, 2019, 08:59:44 AM
Well my assumption on how its release on the price of bitcoin was correct. 
Someone mentioned on the wall observer thread had said total traded on the platform has been 28btc.
Which I would have to agree is quite low for a launch of something with so much interest and potential in it for its first day.
Wow, that’s pathetic.
Someone mentioned on the wall observer thread had said total traded on the platform has been 28btc.
Which I would have to agree is quite low for a launch of something with so much interest and potential in it for its first day.
28 btc traded on bakkt right now.
I would be very curious about WHO is buying this coins... amounts are pity, but seems like some institutional player was ready to "play" with btc on bakkt launch...
I would be very curious about WHO is buying this coins... amounts are pity, but seems like some institutional player was ready to "play" with btc on bakkt launch...
Wow, that’s pathetic.
September 23, 2019, 07:05:37 AM
For anyone interested, here the links to their monthly and daily futures pages where you can track volumes and whatnot;
https://www.theice.com/products/72035483/Bakkt-Bitcoin-USD-Daily-Futures-Contract/data
https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541
Don't immediately think it's a failure just because the volumes are low. It just started so let investors walk themselves through verification procedures and check back after a week or month. Rome isn't built in one day either.
https://www.theice.com/products/72035483/Bakkt-Bitcoin-USD-Daily-Futures-Contract/data
https://www.theice.com/products/72035464/Bakkt-Bitcoin-USD-Monthly-Futures-Contract/data?marketId=6137541
Don't immediately think it's a failure just because the volumes are low. It just started so let investors walk themselves through verification procedures and check back after a week or month. Rome isn't built in one day either.
September 23, 2019, 05:56:38 AM
regarding price, release should not influence the price, except if there are some bad news regarding implementation, because it was a known fact, and price influence were included in price when it is announced, now is too late to trade it, that is my opinion
September 23, 2019, 05:10:03 AM
The Bakkt investments on it's own will not "push" up the price, because the Bakkt trading volume are not used to determine the Bitcoin price. We have several large exchanges that are used to determine the price.
The launch started with a very low trading volume, but that was expected. Traders will not just jump into a new trading instrument after it's launch, because they first want to see what other traders are doing. Bakkt also bought all the bitcoins for the warehouse long before this warehouse was launched, so this will not cause a large "demand" on exchanges now to bump up the price.
The launch started with a very low trading volume, but that was expected. Traders will not just jump into a new trading instrument after it's launch, because they first want to see what other traders are doing. Bakkt also bought all the bitcoins for the warehouse long before this warehouse was launched, so this will not cause a large "demand" on exchanges now to bump up the price.
September 23, 2019, 12:42:03 AM
I have always said that I never trusted bakkts affect on people, it is not something big and its not getting any attention, we are not talking about JPMorgan or anything that size, bakkt is a small timer compared to those places who have bigger assets outside of USA let alone in it.
Hence, the reality is that bakkt will start, maybe get some people involved but in the end it will be nothing too impactful on bitcoin itself and just slowly diminish its affect on bitcoin. That is just my thought tho, maybe I am super wrong, maybe bakkt will change the sphere of bitcoin and the price will be 50k, I just don't see it. If you ask me the halving has a ton more impact on bitcoin than bakkt could ever hope for, with halving we will at least have less mined coins every day.
Hence, the reality is that bakkt will start, maybe get some people involved but in the end it will be nothing too impactful on bitcoin itself and just slowly diminish its affect on bitcoin. That is just my thought tho, maybe I am super wrong, maybe bakkt will change the sphere of bitcoin and the price will be 50k, I just don't see it. If you ask me the halving has a ton more impact on bitcoin than bakkt could ever hope for, with halving we will at least have less mined coins every day.
September 23, 2019, 12:15:04 AM
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.
September 22, 2019, 04:28:53 PM
Having this on every crypto minded individual since release of the news broke a couple of months ago I am wondering when it is launched on monday will it pump up the price or drive it down?
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
Consider the theory "buy the rumor, sell the news." When Bakkt announced the launch date in mid-August, we bounced about $1,500. People bought the rumor. Will they also sell the news?
On the higher time frames (weekly and monthly) the market is coiling for an upside breakout. In that sense, the Bakkt launch could act as a catalyst. I sort of doubt it though. Based on the current price action and indicators, I think we'll have to wait another week or more before bulls start retaking control.
September 22, 2019, 03:35:31 PM
I expect the price to react positively in the short term as we can see its real impact in several months.
All the global markets are experiencing uncertainty, so this news will spread quickly and will work to inflate the hopes, which makes a lot of people buying/selling based on the rise of the market.
In short, what will happen would be an amplification of gains or price stability at $ 9700.
All the global markets are experiencing uncertainty, so this news will spread quickly and will work to inflate the hopes, which makes a lot of people buying/selling based on the rise of the market.
In short, what will happen would be an amplification of gains or price stability at $ 9700.
September 22, 2019, 06:40:46 AM
I think a repeated story like this wouldn't have a significant effect on the price movement. BAKKT news came since what? Last year? So it has already priced in.
To have a new bull run episode, fundamental must change, something like lightning network upgrades, so that setting up a node is more manageable, more secure, etc. It doesn't have to be BTC, just like in 2017, ETH triggered the crypto bull run.
To have a new bull run episode, fundamental must change, something like lightning network upgrades, so that setting up a node is more manageable, more secure, etc. It doesn't have to be BTC, just like in 2017, ETH triggered the crypto bull run.
September 22, 2019, 06:28:51 AM
Just like when you go into a movie but get out feeling disappointed from what you expected it to be due to it being overhyped.
I certainly believe that Bakkt is overhyped. But, doesn't mean this will automatically make dump party started. When VanEck canceled their ETF submission a few weeks ago, the market didn't reach that much. Either the majority of the traders no longer consider VanEck as essential, or the sell volume from plebs did not move the price. Based on the movement these past days, it seems like a lot of users are doing the usual buy the rumor sell the news. I expect we'll see some downside movement tomorrow, and hopefully not for long.
It does look as if this bitcoin market is fueled by rumors and hype and to me this is overinflated like a balloon that is ready to pop after the excitement is over. But that's just me and not necessarily going to happen. Lets hope for the best!
People are attributed various factors with this decrease in price so am pretty sure that you don't actually need to be that serious about it .
Some people are saying it's because of 75$ million being printed
Some are saying that it's because of Saudi Arabia .
The fact is ..we cannot actually point out why it's because of .
With the price halving I think it will be a pump soon..
Once again yeah it is based on the news and this is what people are basing their opinions on when buy and selling their bags. But your right the halving is something solid we can base our opinions on and not just a form of platform for corporations to invest more into bitcoin which in essence can be heavily manipulated in favor of those already crypto rich.Some people are saying it's because of 75$ million being printed
Some are saying that it's because of Saudi Arabia .
The fact is ..we cannot actually point out why it's because of .
With the price halving I think it will be a pump soon..
Bakt might be overhyped to others but there are valid reasons why it should be a hype.
Big whales will surely not just buying the rumors but Bakt is not just a typical exchange. They will be involved here.
It will pump the price but don't expect that rise within overnight. Look at long-term.
There was some talk earlier about how we will see a major swing in the price for the better due to all three exchanges opening at 6am New York local time. But we'll know within the next 24 hours won't we?Big whales will surely not just buying the rumors but Bakt is not just a typical exchange. They will be involved here.
It will pump the price but don't expect that rise within overnight. Look at long-term.
Here are some threads in speculation on how they think the price will be going either up or down
https://bitcointalksearch.org/topic/new-bakkt-game-5083242 ~ Price prediction in a few months after bakkt launches correct prediction wins a prize of btc.
https://bitcointalksearch.org/topic/bakkt-is-coming-will-this-be-biggest-crypto-week-ever-and-set-off-bull-run-5185177 ~ Optimistic views on how it will play out and one say it will surge the price to $15k.
September 22, 2019, 03:22:39 AM
Bakt might be overhyped to others but there are valid reasons why it should be a hype.
Big whales will surely not just buying the rumors but Bakt is not just a typical exchange. They will be involved here.
It will pump the price but don't expect that rise within overnight. Look at long-term.
September 22, 2019, 02:52:20 AM
People are attributed various factors with this decrease in price so am pretty sure that you don't actually need to be that serious about it .
Some people are saying it's because of 75$ million being printed
Some are saying that it's because of Saudi Arabia .
The fact is ..we cannot actually point out why it's because of .
With the price halving I think it will be a pump soon..
Some people are saying it's because of 75$ million being printed
Some are saying that it's because of Saudi Arabia .
The fact is ..we cannot actually point out why it's because of .
With the price halving I think it will be a pump soon..
September 22, 2019, 12:25:26 AM
Just like when you go into a movie but get out feeling disappointed from what you expected it to be due to it being overhyped.
I certainly believe that Bakkt is overhyped. But, doesn't mean this will automatically make dump party started. When VanEck canceled their ETF submission a few weeks ago, the market didn't reach that much. Either the majority of the traders no longer consider VanEck as essential, or the sell volume from plebs did not move the price.
Based on the movement these past days, it seems like a lot of users are doing the usual buy the rumor sell the news. I expect we'll see some downside movement tomorrow, and hopefully not for long.
September 21, 2019, 08:33:46 PM
Having this on every crypto minded individual since release of the news broke a couple of months ago I am wondering when it is launched on monday will it pump up the price or drive it down?
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
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.
Just like when you go into a movie but get out feeling disappointed from what you expected it to be due to it being overhyped.
This can also happen in crypto too with the ICO and IEO have shown us.
The hype up and then the sell off of those coins driving the price down, down , down.
upload
https://bravenewcoin.com/insights/bitcoin-price-analysis-network-stats-hit-new-highs-with-bakkt-on-the
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.
Just like when you go into a movie but get out feeling disappointed from what you expected it to be due to it being overhyped.
This can also happen in crypto too with the ICO and IEO have shown us.
The hype up and then the sell off of those coins driving the price down, down , down.
upload Jump to: