Tomorrow will be one of the most anticipated events of the year for cryptoendoliths — run platform for trading physical futures on Bitcoin. Some experts expect Bakkt a huge impact on the price of the home cryptocurrency, while others negate its importance. So what actually may happen tomorrow and what to be ready for investors?
How to behave in Bitcoin?
Recall that the final date of the launch of the platform was announced in mid-August. The news affected the price of BTC — chart of a digital asset drew a large green candle. At the moment Bitcoin is trading at 10 027 dollars, over the past day, the coin’s value almost did not change.
It is expected that the launch Bakkt will attract into the industry from institutional investors, who will invest in the industry significant capital. Futures contracts will be paid directly in Bitcoin, but institutionally unlikely to hold the cryptocurrency in the long term. Its price is changing too often, and so investors it is important to stick to stability.
And then, if famous personalities on wall street so much would bitcoins, they would have found a way to buy them in large quantity. On his Twitter page in the economist Alex Krueger compared the launch Bakkt with the start of trading on the CME in late 2017.
The amount of transactions in Bitcoin futures in the first week of trading on the Chicago exchange reached $ 460 million. To date, it has increased to $ 700 million. What do you think, can Bakkt to attract much more money or the initiative still fails?
CME bitcoin futures traded $460 million on its first week. Current volume is around $700 million. The fake Van Eck ETF traded $0 on its first week.
How much volume will attract Bakkt is a key variable for the week ahead. Would you expect Bakkt to flop or to launch successfully?
— Alex Krüger (@krugermacro) September 22, 2019
Kruger to the tweet attached a poll with two choices. At the time of writing of this article took part in the poll 1855 man. Opinions were divided almost equally — slightly more than half of respondents believe that tomorrow will not bring anything positive to Bitcoin prices. The remaining 49 percent are confident that the launch of Bakkt positive impact on bitcoin in General.
Conclusion: the volatile nature of cryptocurrency makes investors doubt even in such seemingly positive developments. In the end, we have to monitor the reaction rate immediately after the launch of the platform. Do not forget about the time difference. To wait for some event tomorrow morning is not worth it.
However, there is one thing in which, on the launch of the new platform, you can be pretty sure. The launch Bakkt is Intercontinental Exchange, known network of exchanges and clearing houses for financial and commodity markets in the United States, Canada and Europe. ICE owns the new York stock exchange and is known to all, the financiers of wall street. The presence of such a major "patron" just to raise the confidence level of large individual and institutional investors for bitcoin.
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