Soon there will be an event which so many were waiting for cryptomnesia — in three days we will witness the official launch of the platform Bakkt, which will give the opportunity to make trades of physical futures on Bitcoin. Many famous people have already commented on the potential effect Bakkt on the price of the cryptocurrency. They were joined by Thomas Lee, co-founder of Fundstrat.
Get ready for tutumunu!
Lee hastened to assure his Twitter followers that Bakkt will become a bridge between industry cryptocurrency and institutional investors. The sudden influx of capital in the market is bound to have a positive impact on the price of the main digital asset.
I am very positive on @Bakkt and it’s ability to improve trust with institutions to crypto https://t.co/7icnJp76GE
— Thomas Lee (@fundstrat) September 20, 2019
Thomas retweeted a message from Mia Tam technical analysis chart that you can see below. It is noticeable the formation of almost symmetrical triangle. Traditionally this figure is followed by a sharp breakthrough price shopping tool. In other words, traders may rely on the rapid rise in Bitcoin after launching Bakkt. By the way, the start time of the platform almost met the top of the triangle is the date marked by the white dotted line.
But other cryptoendoliths have negative forecasts. For example, CryptoGuy believes that Bakkt will cause the start of the “bear season.” After the launch of the platform Bitcoin price is supposed to drop due to market manipulation. CryptoGuy draws Parallels with the launch of futures on the CBOE and CME. We will remind, a few days after these events, the price of bitcoin has reached its historical maximum, and then began to fall rapidly. Here is his tweet.
@bakkt is completely irrelevant. I tweeted about this a day ago. The original bitcoin future contracts made the price drop. The same result will happen as soon as the platform goes live. They have overhyped this exchange more than anything I’ve ever seen. BTC price drop is coming.
— CryptoGuy (@cryptoSNOB1) September 20, 2019
Read on: Start Bakkt may not help Bitcoin, and even aggravate the situation.
Recall, for the creation of Bakkt is ICE, network of exchanges and clearing houses for financial and commodity markets in the United States, Canada and Europe. The presence of so large organizations in the crypt — another reason for investors to trust Bitcoin and invest in it.
The reality is that to predict the influence run Bakkt on cryptocurrencies is impossible, because such a platform was not. That is why representatives of the industry give both positive and diametrically opposite predictions. Anyway, answers to all questions will be known on Monday, so still waiting.
To discuss the news in our cryptodata millionaires. For a Bitcoins watch with the rating of the cryptocurrency. We also have Yandex Zen — and there is also good.
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