How Bakkt will influence Bitcoin price? - page 3.

mk4

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Quote from: jonathan6655321 on September 22, 2019, 03:33:23 AM

I just wonder what the influence of Bakkt will be on Bitcoin
and it seems like it won't be positive

but because of my lack of knowledge, I ask here the community

It could be either. In the end, it all comes down to supply and demand as per usual. And if you're going to the "manipulation" route, it could also go either way. Remember, the "whales" can manipulate the prices(to a certain extent) both in an upward trend or in a downward trend.

And again, all that matters is that there will be increased market liquidity.

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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?

Where do you see the manipulation or dip in the bitcoin price ? Today is Weekend so you will except more volatility due to low volume. Bitcoin price was in little below 10kK$ and now it is again above 10K.
I do not understand why people create multiple threads here complaining that the price is dumping before the bakkt launch when actually it is not.
You will get nothing by creating the fud.

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Quote from: mk4 on September 22, 2019, 03:30:21 AM

What dump? The small dip from around $10,200 to $9,900? We call these dumps now?

I hate that word "dump" as used by the majority of fools here. As bad as the mainstream financial media is, even they don't use a word like that to describe a dip in price.

And no, that tiny little fluctuation was nothing and if we're even calling that a dump or a dip then there's some serious perspective being lost.

Quote from: franky1 on September 22, 2019, 03:19:56 AM

not even a month ago the price was lower than it is today.

At least you get it. Now as far as the Bakkt thing goes, we'll have to see once the big players start trading. I do have a feeling that the result won't be neutral, as some have stated. In fact I think it'll be good for bitcoin's price, at least early on. What I'm wondering is how it's going to affect bitcoin's notorious volatility--and I don't know the answer to that, but I'll be watching the parade with popcorn in hand.

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If it’s to be uber bullish for the price then I don’t expect it to be instant. It might take a while, I don’t think we’re going to see a major spike in the next few days.

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I don't really follow this much but have heard most of the main talking points. Mostly it's a lot of "Oh, no this will be like 2017 when CME launched and tanked the price" - I think I got that right. Which is a rather ludicrous line to draw anyways. Sure it may have had some effect but mostly it was a correction from the FOMO. When I hear this it usually goes hand in hand with a tiny caveat at the end how Bakkt will "physically" have the BTC.

The thing here is to not look at this event on a small time frame, give it a couple months to see how the rollout goes, then a year or two to see the real benefits. I think it will be an overall positive as it's a step in adoption and acceptance, that requires actually moving BTC around.

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I see not much happening with that. Price has move from its low since a year ago till what we have at the moment. We are going to be feeling some volatility and that is it.

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Quote from: mk4 on September 22, 2019, 03:30:21 AM

What dump? The small dip from around $10,200 to $9,900? We call these dumps now?

While there's no surefire way to know what caused that "dump" that you're saying, it's very likely just due to the typical volatile nature of bitcoin. You've been registered since 2017; the price swings shouldn't be new to you already.

I think I just used the wrong text in the title

You're right

Price swings are not new to me

I just wonder what the influence of Bakkt will be on Bitcoin
and it seems like it won't be positive

but because of my lack of knowledge, I ask here the community

mk4

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What dump? The small dip from around $10,200 to $9,900? We call these dumps now?

While there's no surefire way to know what caused that "dump" that you're saying, it's very likely just due to the typical volatile nature of bitcoin. You've been registered since 2017; the price swings shouldn't be new to you already.

Quote from: jonathan6655321 on September 22, 2019, 03:22:45 AM

But I do wonder if Bakkt had and will have influence over the bitcoin price

Of course it will have, no matter how big or how small. We just don't know if it would be in a positive or negative manner in terms of price. But in the end, increased market liquidity is always great.

jonathan6655321

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I'm not concerned about Bitcoin in the long run.

Keeping my bitcoin for almost 2 years

But I do wonder if Bakkt had and will have influence over the bitcoin price

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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?

dump?

not even a month ago the price was lower than it is today. what should be seen is more like a short spike september 3-6 and then settling back to norm.

when prices fluctuate less than 20% thats the norm. its called volatility for a reason.
from september peak of $10,700 to a low of $9,900 thats not even a 10% shift. thus not really anything to be concerned about

jonathan6655321

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

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