How Bakkt will influence Bitcoin price? - page 2.

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Quote from: Febo on September 24, 2019, 09:38:09 AM

BAKKT is now dumping those Bitcoins they bought at $3000-$4000 at start of this year. They will triple their money. Pretty much mission accomplished.

Are you kidding me? They're not dumping anything. Bakkt actually benefits from a price that's going up because people aren't too keen on buying into something that's going down. You're basically saying that they are destroying their own market. Nah.

We're just witnessing a continuation of the bearish momentum. We tested the very bottom of the descending triangle perfectly. It's going to be interesting what will happen from here, but it's not looking too good. The sellers have plenty of ammo to sell while the buyers will back off more and more, especially when we definitively break down.

figmentofmyass

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Quote from: el kaka22 on September 24, 2019, 02:21:33 AM

Volume is so little that it makes absolutely no sense to be hyped about this.

what did people expect---5-6 figure BTC volume on the first day? Roll Eyes

it's a brand new product and liquidity is probably lacking. short traders are limited by the BTC in the vault.

anyone know on what basis bakkt/ICE will be reporting holdings in the vault? i don't see bitcoin listed here. https://www.theice.com/FuturesUSReportCenter.shtml

rdbase

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Quote from: bitbunnny on September 22, 2019, 11:16:10 AM

I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.

But it has as explained in the following article released just after it launched. The bears are looking for a $7.7k bitcoin. Embarrassed

https://cointelegraph.com/news/bitcoin-price-bears-eye-77k-to-capitalize-on-lukewarm-bakkt-debut
I sure hope they dont get this request filled due to bakkt being the root cause of it. Undecided

What else was released in the past 48 hours in direct correlation to the bitcoin market to cause a loss of nearly $700?

Febo

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BAKKT is now dumping those Bitcoins they bought at $3000-$4000 at start of this year. They will triple their money. Pretty much mission accomplished.

Vaculin

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Winding down.

Quote from: jonathan6655321 on September 22, 2019, 03:12:03 AM

Do you think it has a correlation? Or it's just some big players that manipulating the market?

As if there is something significant happened in the market, I get it, price dumped below $10K but it's been the normal movement this month, that's only a sideways movement and that is something we should worry. In fact, I believe this is a positive news and I am now confident that even if the price will dump it will recover since we already have big players in the market.

Just relax, because the effect of this is long term, the market for now is not so stable but eventually the market will start to rally and that will surprise us, either in the last quarter or probably next year before the halving schedule.

el kaka22

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Volume is so little that it makes absolutely no sense to be hyped about this. After seeing bakkt everywhere for years I was thinking them like they were some big deal but right now there is literally no trade that really could shape the future of bitcoin, its so tiny that it wouldn't change anything in bitcoin world.

Personally, I believe if there was this much hype about it and there was no volume to support that hype, I am imagining a scenario where big companies who will use bakkt are just waiting for a better moment and they are holding their investments until its established and showed that it does what it does properly without any issues and over time there will be more and more volume, if that is not the case then there is really nothing we can get out of bakkt and its useless.

btc_angela

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Quote from: Oasisman on September 23, 2019, 08:53:03 PM

Quote from: bitcoinposts on September 22, 2019, 01:46:02 PM

Bakkt launch is most anticipated launch look like crypto industry may slightly react to bakkt launch now the market is bullish we can expect btc to touch 15000 dollars with this launch

It seems like the hype didnt worked? Bakkt had a slow start and the price dips around $300 from the last 24hrs after the opening. Bitcoin is trading at $9.7k at this very moment, and I dont think the slight pull of the price has no connection with the opening of Bakkt.
We'll just hope something positive will come on the upcoming weeks after the opening of Bakkt, my hopes are high for something to happen.

Oh well, I think everyone got the answer already, it has negative effect on the market when it opened, Lol. Never thought that this will happen, but what do you expect? The playing field is very open and it is prone to manipulation. Maybe some entity want to pull the price down before getting inside. Right now it's really hard to see where the price is going since Bakkt entered the picture. But up to this point, it doesn't look good, there's no more hype and on the contrary the price did slide.

Oasisman

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Quote from: bitcoinposts on September 22, 2019, 01:46:02 PM

Bakkt launch is most anticipated launch look like crypto industry may slightly react to bakkt launch now the market is bullish we can expect btc to touch 15000 dollars with this launch

It seems like the hype didnt worked? Bakkt had a slow start and the price dips around $300 from the last 24hrs after the opening. Bitcoin is trading at $9.7k at this very moment, and I dont think the slight pull of the price has no connection with the opening of Bakkt.
We'll just hope something positive will come on the upcoming weeks after the opening of Bakkt, my hopes are high for something to happen.

1Referee

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Quote from: bitbunnny on September 22, 2019, 11:16:10 AM

I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.

Bakkt has done a lot to hype up itself so it's not all that surprising to see people jump on the Bakkt bandwagon.

What people did however (rightfully) expect to happen was some sort of a sell the news dump, but it has either been front ran already (hence the current price), or the smart money just doesn't care much and we still have to wait a week or so for the bearish formation to finally break.

The actual fundamental benefit of Bakkt is that it provides a fully regulated platform stimulating honest price discovery. I think that's something we should cherish the most instead of just focusing on pumps and dumps.

People tend to consider the volumes exchanges such as Coinbase generate low, but that's only because of how much fake volumes exchanges like Huobi, OKEx, etc generate. Give Bakkt a good few months to settle and grow. It's not doing too bad; currently 28BTC volume while Vaneck's trust hasn't seen a single penny of capital inflow in almost a week!

bitsurfer2014

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Quote from: scambust on September 22, 2019, 09:44:10 AM

Quote from: avikz on September 22, 2019, 09:37:21 AM

Quote from: bitsurfer2014 on September 22, 2019, 09:16:28 AM

Bakkt's presence in the crypto industry only signifies that there is a growing demand among traditional investors and other people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of investors to join on this growing trend.

Spot on! People have to remember, that Bakkt is gearing up to offer physically settled bitcoin future contracts! That means, if Bakkts receives an order for a future contract from an investor, they will have to buy equivalent amount of bitcoins from the market. If a buyer of the contract is willing, they can take delivery of the equivalent amount of bitcoins to their personal wallet. This is indeed going to help the bitcoin market because the demand is going to increase.

However, I don't expect any immediate effect to be seen in the market. We may see some spikes or downtrends in the market depending on the demand, but it requires a lot of money to manipulate a $180 billion market! But Bakkt is definitely a plus!

Yes, Bakkt is positive on paper. But by tomorrow, I expect one of two things to happen: A breakout to $10,500 and then a crash to $8,000 or a breakdown to $9,000 a then a rally to beyond $12,000. It is only a few hours left, we will soon see.

Apparently, Bakkt's opening didn't result to a surge in BTC's price but currently it is still moving sideways! - https://coinmarketcap.com So I guess we will see within the first month of its operation any effects on BTC's price so that we can have a better idea on its influence on crypto markets in general.

Since its their opening day, I understand interested customers are in the process of fulfilling regulatory compliance such as KYC procedure that is necessary before they could buy Bitcoin Futures and we should not expect a surge in BTC's price just yet. Imho.

Miklight88

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seeing toward the way market are being handle now adays seems very manipulative cos there is no way a those news are just mere one but a very bad way to pump the market in a way that they will be a thinking of its due to the news.

bitcoinposts

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Bakkt launch is most anticipated launch look like crypto industry may slightly react to bakkt launch now the market is bullish we can expect btc to touch 15000 dollars with this launch

bitbunnny

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I don't think that Bakkt will influence the Bitcoin price significantly, not in positive or in negative way or at least that influence will not be at long term.
Some are expecting very much from Bakkt and some are very sceptical. Probably the truth is somwhere in the middle but we will find out soon enough.

rdbase

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People are extremely skeptical on what it will do to the price tomorrow when it officially launches to its customer.
According to this post in the wall observer thread which is a good one to read on its progression until it is unveiled.
https://bitcointalksearch.org/topic/m.52520017

scambust

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Quote from: avikz on September 22, 2019, 09:37:21 AM

Quote from: bitsurfer2014 on September 22, 2019, 09:16:28 AM

Bakkt's presence in the crypto industry only signifies that there is a growing demand among traditional investors and other people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of investors to join on this growing trend.

Spot on! People have to remember, that Bakkt is gearing up to offer physically settled bitcoin future contracts! That means, if Bakkts receives an order for a future contract from an investor, they will have to buy equivalent amount of bitcoins from the market. If a buyer of the contract is willing, they can take delivery of the equivalent amount of bitcoins to their personal wallet. This is indeed going to help the bitcoin market because the demand is going to increase.

However, I don't expect any immediate effect to be seen in the market. We may see some spikes or downtrends in the market depending on the demand, but it requires a lot of money to manipulate a $180 billion market! But Bakkt is definitely a plus!

Yes, Bakkt is positive on paper. But by tomorrow, I expect one of two things to happen: A breakout to $10,500 and then a crash to $8,000 or a breakdown to $9,000 a then a rally to beyond $12,000. It is only a few hours left, we will soon see.

avikz

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Quote from: bitsurfer2014 on September 22, 2019, 09:16:28 AM

Bakkt's presence in the crypto industry only signifies that there is a growing demand among traditional investors and other people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of investors to join on this growing trend.

Spot on! People have to remember, that Bakkt is gearing up to offer physically settled bitcoin future contracts! That means, if Bakkts receives an order for a future contract from an investor, they will have to buy equivalent amount of bitcoins from the market. If a buyer of the contract is willing, they can take delivery of the equivalent amount of bitcoins to their personal wallet. This is indeed going to help the bitcoin market because the demand is going to increase.

However, I don't expect any immediate effect to be seen in the market. We may see some spikes or downtrends in the market depending on the demand, but it requires a lot of money to manipulate a $180 billion market! But Bakkt is definitely a plus!

bitsurfer2014

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Bakkt's presence in the crypto industry only signifies that there is a growing demand among traditional investors and other people who are interested to invest on digital assets like Bitcoin as a way to diversify their portfolio and Bakkt did recognized it and catered to those needs by offering Bitcoin futures!

In this regard, I would assume it will have a positive effect on BTC's price and should pave the way for more of these types of investors to join on this growing trend.

lightningmelo

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I believe it won't matter much and we can even see a price drop in the short-term.

In the medium and long term, it will definitely be a positive influence for Bitcoin in general (and it's price too, obviously).

crzy

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Quote from: jonathan6655321 on September 22, 2019, 03:12:03 AM

Do you think it has a correlation? Or it's just some big players that manipulating the market?

None anymore or after a month maybe we can see the effect of BAKKT? Well, manipulation was on the market ever since and we can’t say that BAKKT is the reason of that we have to look for more opportunities on how we can handle the manipulators and have profit as well. We hope that BAKKT will be good for the price of bitcoin, let’s see.

kryptqnick

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Quote from: jonathan6655321 on September 22, 2019, 03:12:03 AM

Do you think it has a correlation? Or it's just some big players that manipulating the market?

If Bakkt launched when it was supposed to, it could trigger the market recovery. Postponing the launch resulted in disappointment and contributed to the winter dump. Now there are way less people who still care about Bakkt, so I think there won't be any huge impact. Futures ignore the actual price, I think they are not healthy for Bitcoin. But a small pump due to hype can occur temporarily.

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