Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours - page 2.

Pearls Before Swine

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Quote from: Yaunfitda on October 28, 2019, 06:20:56 AM

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now?

I think that's already happened. Bitcoin jumped quite a bit, tho it dropped back down somewhat, and the altcoins I follow have all gone up and followed what bitcoin was doing. That's about what I expected when btc started to move, but I'm sure not all altcoins have behaved that way.

And I bet you the Bakkt theory as to why the market boomed in the last couple of days is correct, and I've been saying as much since it happened. Traders on Bakkt are probably betting that bitcoin's price is going to be higher whenever the options contracts expire, which drove up the price in anticipation. I can't think of another reasonable explanation for what we saw, nor am I complaining about it. I'll take gains any way I can get them.

NathanJB

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Quote from: Yaunfitda on October 28, 2019, 06:20:56 AM

Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

Quote

According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.

Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.

https://cointelegraph.com/news/bakkts-bitcoin-futures-volume-explodes-260-to-trade-11m-in-24-hours

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

Both ways are possible. It is possible that the altcoins will take the toll of a bullish Bitcoin. It is also possible that the altcoins will somehow gain the trust of investors as Bitcoin is gaining more of their trust as well. What is most likely to happen is that Bitcoin will continue dominating the market while reaching higher and higher price levels. And while this goes on, the altcoin market will be in red. But once the bullish rise of Bitcoin will stop and the correction will happen, the altcoins will do their own bullish growth.

TGD

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Wen Rolex?

Quote from: bassbity on October 28, 2019, 07:22:37 AM

Quote from: TGD on October 28, 2019, 07:01:20 AM

Quote from: ecnalubma on October 28, 2019, 06:56:35 AM

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

One thing is guarantee. Bitcoin price will pump until halving. Bakkt showing some really juicy volume compared to the volume in there opening. But sadly, Altcoin future is not guarantee with Bakkt volume improvement since Bakkt offering BTC contract and investors there can't used that BTC to buy altcoins. We need bitcoin ETF to be approved so that institutional investors can enter large amount of money and BTC that can be use to buy altcoins.

Maybe because Bakkt's volume has risen dramatically, making bitcoin prices stable, but is Bakkt much awaited by traders? I think we just need to wait for what will happen, every time there is any news, including Bakkt, it will not affect Altcoin, maybe this season is not the actual altcoin year.

Currently. Bakkt is the only gateway for institutional investor to invest in BTC via physical contract. So it's really a big deal on BTC only. Altcoin will gonna be pull down once BTC price will continue to rise.

bassbity

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Quote from: TGD on October 28, 2019, 07:01:20 AM

Quote from: ecnalubma on October 28, 2019, 06:56:35 AM

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

One thing is guarantee. Bitcoin price will pump until halving. Bakkt showing some really juicy volume compared to the volume in there opening. But sadly, Altcoin future is not guarantee with Bakkt volume improvement since Bakkt offering BTC contract and investors there can't used that BTC to buy altcoins. We need bitcoin ETF to be approved so that institutional investors can enter large amount of money and BTC that can be use to buy altcoins.

Maybe because Bakkt's volume has risen dramatically, making bitcoin prices stable, but is Bakkt much awaited by traders? I think we just need to wait for what will happen, every time there is any news, including Bakkt, it will not affect Altcoin, maybe this season is not the actual altcoin year.

TGD

hero member

Activity: 1288

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Wen Rolex?

Quote from: ecnalubma on October 28, 2019, 06:56:35 AM

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

One thing is guarantee. Bitcoin price will pump until halving. Bakkt showing some really juicy volume compared to the volume in there opening. But sadly, Altcoin future is not guarantee with Bakkt volume improvement since Bakkt offering BTC contract and investors there can't used that BTC to buy altcoins. We need bitcoin ETF to be approved so that institutional investors can enter large amount of money and BTC that can be use to buy altcoins.

SamboNZ

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I hope Bakkt volume increases more it could entice more institutional investors or big companies to invest in bitcoin. $11m is very small because Bakkt is the only providing such product in the US right now.

ecnalubma

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www.Artemis.co

I’m very optimistic that BAKKT’s pump could possibly contribute to most awaited bullrun, the news are very timely that triggers positive sentiment among traders. If we can have a healthy market until the end of the year then its a good sign hoping it will pull the altcoin prices too.

Yaunfitda

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Activity: 2870

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Bakkt’s Bitcoin Futures Volume Explodes 260% to Trade $11M in 24 Hours

Quote

According to data from Twitter-based monitoring resource Bakkt Volume Bot on Oct. 26, Bakkt traded 1,183 Bitcoin futures contracts, or 1,183 BTC ($11 million) on Friday.

Compared to just 331 contracts ($3.1 million) on Thursday, the increase in just 24 hours was 257%, dwarfing previous jumps, which themselves had resulted in all-time highs earlier in October.

https://cointelegraph.com/news/bakkts-bitcoin-futures-volume-explodes-260-to-trade-11m-in-24-hours

Do you guys think though that since Bakkt has been having an all time high volume tradings, will the positive sentiments will spill to the alt market right now? I mean alt market needs some catalyst, so I'm thinking that this whole Bakkt entering the picture could push the price further and possible that it can have domino effect in the alts?

What are your thoughts about my theory?

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