Will BAKKT’s launch bring down the price of Bitcoin (BTC)?

 

Will BAKKT's launch bring down the price of Bitcoin (BTC)

Will BAKKT’s launch bring down the price of Bitcoin (BTC)?

Will this important event for the crypto market influence the price of Bitcoin?

On September 23, 2019, BAKKT will start its Bitcoin Futures business.
Unlike CME’s Bitcoin Futures, BAKKT must have real Bitcoins in stock in its inventory to respond to Bitcoin purchase requests by its clients.

It is on this point that many people see BAKKT as a savior of the market, saying that its launch will cause additional demand for Bitcoin and raise its price.

BAKKT is a expected as the messiah in a bear market that has been going on for almost two years now, hoping to raise the price of Bitcoin.

Since the end of 2018, Bitcoin has begun to recover from around $3,500 to $14,000 in June 2019.
A rapid and surprising rise that surprised the entire crypto community that expected a Bitcoin (BTC) at perhaps $6,000 by the end of 2019.

Altcoins like Ethereum (ETH) or Litecoin (LTC) have followed the race while the rest of the altcoin market is at the bottom of the ravine and still has not moved.

The question is what made Bitcoin rise so fast?

The Chinese Bitcoin Scam Plus Token in billions of dollars?

The arrests of those involved in the Bitcoin and Ethereum Plus Token scam start when the price of Bitcoin began to come back down in June 2019.

Billions of dollars of purchases in Bitcoin and Ethereum could actually push the price of Bitcoin up, it is a possibility to take into account in the rapid and unexpected rise of Bitcoin early 2019.

Or is it the craze for the launch of BAKKT in September 2019?

And investors playing the Buy the rumor sell the news, raising the price of Bitcoin before the launch of BAKKT to make it fall at the launch of BAKKT by selling their previously purchased Bitcoins?

Nobody knows.

This is the difficulty of this type of market based on speculation.

Remember in 2017, CBOE’s Bitcoin Futures were expected as a positive event for the crypto market and the Bitcoin price.

What happened?

Bitcoin skyrocketed to $20,000 and then collapsed to $3,000!

Again, everyone is waiting for the arrival of BAKKT as the savior of this boring crypto market.

And sometimes, in trading, when everyone expects the same thing, the opposite can happen.
The smart money anticipating months ahead an expected increase in the price of Bitcoin in relation to a specific event to actually sell their stocks of Bitcoin and dump the price contrary to what was expected by the mass as in 2017.

But there is an important difference, BAKKT has to buy and store real Bitcoins unlike CBOE and CME.

The positive aspects of BAKKT in the crypto market

The optimism surrounding BAKKT is very high.

BAKKT is the first futures market to settle contracts in real Bitcoin tokens.

This is a major difference.
Rather than artificially influencing price like other Bitcoin futures markets, BAKKT will actually have a quantifiable impact on the cryptocurrency market.

Not only will its futures contracts be reflected in the actual supply and demand of Bitcoin but many believe that this could be a gateway for the arrival of large institutional funds in Bitcoin and cryptocurrencies.

Conclusion

Will the launch of BAKKT bring down the price of Bitcoin?

Nobody knows but you have to take into account this possibility as the opposite could just as easily happen.

It may also be that nothing special happens, that the price of Bitcoin is simply in a consolidation phase and will stay in a price range for a while before starting to move up again, BAKKT’s launch having no impact on it.

The advice we can give is to be ready for any eventuality, drop or increase in Bitcoin price.
Nobody knows what’s going to happen, that’s how it is in any speculative market with some players who can certainly influence the price of Bitcoin according to the psychology of the market.

The launch of BAKKT is clearly an important event to give a direction to the crypto and Bitcoin market.
Answer on September 23, 2019.

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