Bakkt launched! What now?

[Zed0X]

The much anticipated Bakkt has been launched today. What's going to happen next? So far, the market reaction is not what many hopefuls are expecting. People are currently dumping and this might last for a couple of days.

Regardless of the current price, I expect more big or institutional investors to dive into bitcoin in the the coming days/months. With more bigger players in the market, bitcoin might become less volatile and that could be good for better adoption.

[ZionRTZ]

So if more big investors will come in, that means more whales will trade against each other. Let's not forget also that the opposite may happen. I mean more whales will either dump or pump the market depending on their consensus. 

[mnixxo.crypto]

So if more big investors will come in, that means more whales will trade against each other. Let's not forget also that the opposite may happen. I mean more whales will either dump or pump the market depending on their consensus.

I agree with you. We are were waiting for bakkt and how big impact will Bakkt have at the bitcoin price. I must tell that I am quite surprised with such low volume at the Bakkt. I excpected much bigger.

[trauchot]

Everyone has been waiting for the opening of Bakkt for a very long time and the sense of the fact that Bakkt opened, the cryptocurrency market is simply dead now, so we need to hope that at least some kind of cryptocurrency growth will begin, otherwise no one will believe in growth.

[cheezcarls]

The much anticipated Bakkt has been launched today. What's going to happen next? So far, the market reaction is not what many hopefuls are expecting. People are currently dumping and this might last for a couple of days.

Regardless of the current price, I expect more big or institutional investors to dive into bitcoin in the the coming days/months. With more bigger players in the market, bitcoin might become less volatile and that could be good for better adoption.

It's a reverse result instead. It was a disappointing start as it turns out that "sell the news" is real. While most of us are expecting that it will "fly high to the sky", it goes the other way around. Now that we are hanging on to around $8k, I would highly expect that it might dip a little bit before we go "straight to the moon" again within next month.

[Keenly]

The much anticipated Bakkt has been launched today. What's going to happen next? So far, the market reaction is not what many hopefuls are expecting. People are currently dumping and this might last for a couple of days.

Regardless of the current price, I expect more big or institutional investors to dive into bitcoin in the the coming days/months. With more bigger players in the market, bitcoin might become less volatile and that could be good for better adoption.

It's a reverse result instead. It was a disappointing start as it turns out that "sell the news" is real. While most of us are expecting that it will "fly high to the sky", it goes the other way around. Now that we are hanging on to around $8k, I would highly expect that it might dip a little bit before we go "straight to the moon" again within next month.

I don’t know if we went to the moon, but, as I think it will be a rise, but not sharp, but smooth in the near future. Leap, As I think it will not.

[Zed0X]

It's a reverse result instead. It was a disappointing start as it turns out that "sell the news" is real. While most of us are expecting that it will "fly high to the sky", it goes the other way around. Now that we are hanging on to around $8k, I would highly expect that it might dip a little bit before we go "straight to the moon" again within next month.

A classic "sell the news" move indeed. Typical long time traders cashing in leaving many hopefuls rekt  Some bulls still trying to defend $8K but I don't know how long they can hold. I also expect $7K in the coming days.

So if more big investors will come in, that means more whales will trade against each other. Let's not forget also that the opposite may happen. I mean more whales will either dump or pump the market depending on their consensus. 

Yes of course that is another possibility. We'll see how it goes starting next month.

[alltalk]

I don’t know if we went to the moon, but, as I think it will be a rise, but not sharp, but smooth in the near future.

I still believe that we will have the real bullrun in the future although currently we don't see fast progress about it. The market dropped after Bakkt launched. It was surprising for me, but with the power of whales can make it happen. I think it was just for a while, we will see the upcoming big rising soon.

[abdmuiz]

this is only a temporary decrease to make this new asset mature

[dragononcrypto]

Bit late to say now, but I did speculate that the price would dump 15%+ after the launch. It seemed like an obvious conclusion given recent launches that have occured.

Part 2: Measuring The Move of the Descending Triangle Breakdown

[Zed0X]

Bit late to say now, but I did speculate that the price would dump 15%+ after the launch. It seemed like an obvious conclusion given recent launches that have occured
~

Good call nonetheless.


Let's take a look at the performance in terms of trade volume after one week:

• Sep. 23 - $0.69 million
• Sep. 24 - $1.28 million
• Sep. 25 - $0.65 million
• Sep. 26 - $1.15 million
• Sep. 27 - $1.37 million
• Sep. 30 - $1.09 million
• Oct. 01 - $0.23 million

Source

The result have been disappointing to many but let's see how this goes until the end of the year. I don't have a crystal ball but I'm quite confident there are players in the financial institutions that are just waiting and watching.

[vegasus]

The result have been disappointing to many but let's see how this goes until the end of the year. I don't have a crystal ball but I'm quite confident there are players in the financial institutions that are just waiting and watching.

I am afraid that we will see more and more dumps during this month. But who knows after October the price can rise again because we will go to the halving time in the next year. I agree that there are many players to watch and monitor the progress of Bakkt and crypto values. They may wait for something to take actions.

[dragononcrypto]

Bit late to say now, but I did speculate that the price would dump 15%+ after the launch. It seemed like an obvious conclusion given recent launches that have occured
~

Good call nonetheless.


Let's take a look at the performance in terms of trade volume after one week:

• Sep. 23 - $0.69 million
• Sep. 24 - $1.28 million
• Sep. 25 - $0.65 million
• Sep. 26 - $1.15 million
• Sep. 27 - $1.37 million
• Sep. 30 - $1.09 million
• Oct. 01 - $0.23 million

Source

The result have been disappointing to many but let's see how this goes until the end of the year. I don't have a crystal ball but I'm quite confident there are players in the financial institutions that are just waiting and watching.

Thanks and yes this is poor volume, but unelss i'm mistaken then CME also didn't have very high volume and took many months to pick up. Probably this will be the same with the Bakkt platform, or at least we can hope! I also think many institutional investors were buying up BTC from $5-10K in order to use this Bitcoin to short the market on the Bakkt platform.

[Bobcrypto]

 Its just a normal trend in crypto, i think many of us  have been used to these kind of speculation, pump and dump, whales interference etc, however Bitcoin has been known to bringing surprises. We may espect better end of 2019.

[mlawson71]

How is the situation developing now?