We all had high hopes since the time we knew that a major stocks trading provider was set to launch this Bakkt since it was going to bring big buyers and 'institutional investors' to the table. There is no doubt that Bakkt had been setting records one by one after its launch and had brought Bitcoin a greater volume in Future trading. But, was that enough? What happened after the launch and why couldn't Bakkt deliver what we were expecting highly from it? The rise in price of Bitcoin? Didn't you think it the way I did? What could be the reason for this continuous decline that BTC is facing?
Unfortunately, these institutional buyers are not the same kind of people (newbies and innocents) that helped push Bitcoin to the top of the hill in 2017. These investors are savvy and they actually do not care what can happen with Bitcoin all they care is that they get the profit that they wanted. This is something we should always put into the table. We could never expect these people to be carried away by hypes and emotional appeal. In my view, there is nothing wrong with Bakkt and it can be playing a good role in the overall goal of making Bitcoin go mainstream but we should not be overestimating this platform as this is not the only reason why Bitcoin will be adopted by the people.
