{"id":390671,"date":"2019-07-22T22:00:12","date_gmt":"2019-07-22T22:00:12","guid":{"rendered":"https:\/\/wncen.com\/?p=390671"},"modified":"2024-06-11T13:45:45","modified_gmt":"2024-06-11T13:45:45","slug":"analyst-bakkt-could-be-a-huge-catalyst-for-bitcoin-is-a-price-surge-inbound","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/analyst-bakkt-could-be-a-huge-catalyst-for-bitcoin-is-a-price-surge-inbound\/","title":{"rendered":"Analyst: Bakkt Could be a Huge Catalyst for Bitcoin; Is a Price Surge Inbound?"},"content":{"rendered":"<p>Despite facing multiple long delays, the highly anticipated Bakkt Bitcoin futures platform has finally began testing, and many analysts are now noting that the release of this platform could greatly enhance BTC and the overall crypto markets.<\/p>\n<p>Importantly, one analyst group is now noting that the official launch of this platform could be a \u201chuge catalyst\u201d for Bitcoin and the aggregated crypto markets, which could ultimately help provide some stability to the highly volatile markets.<\/p>\n<h2><strong>Bakkt Begins Official Testing of Bitcoin Futures Platform After Six Months of Delays<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>Although <a href=\"https:\/\/www.bakkt.com\/index\" rel=\"nofollow\">Bakkt<\/a> has been <a href=\"https:\/\/wncen.com\/2019\/06\/29\/crypto-tidbits-bitcoin-surges-xrp-exchange-hack-ledgerxs-btc-futures-chainlink-on-coinbase\/\">delayed<\/a> on several occasions, it does appear that the platform is rapidly coming to fruition, which could be a very positive thing for the markets.<\/p>\n<p>The key to the Bakkt platform that makes it more advantageous to the markets than <a href=\"https:\/\/wncen.com\/2019\/07\/19\/bitmex-may-be-the-first-target-of-the-u-s-which-crypto-platform-is-next\/\">other futures platforms<\/a> is that all trades are physically settled with Bitcoin, which means that all profitable trades are paid out with actual Bitcoin, rather than a sum of cash that is equivalent to the value of the BTC.<\/p>\n<blockquote><p>\u201cBakkt begins testing on Monday. The hype is bakkt with substance though. Unlike other futures exchanges, this is settled in bitcoin. Hard, actual bitcoin is paid out, not fiat equivalent to the price of bitcoin. The result is better price discovery and liquidity for bitcoin,\u201d Rhythm Trader, a popular crypto analyst, explained in a recent tweet.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bakkt begins testing on Monday.<\/p>\n<p>The hype is bakkt with substance though.<\/p>\n<p>Unlike other futures exchanges, this is settled in bitcoin. <\/p>\n<p>Hard, actual bitcoin is paid out, not fiat equivalent to the price of bitcoin.<\/p>\n<p>The result is better price discovery and liquidity for bitcoin.<\/p>\n<p>&mdash; Rhythm (@Rhythmtrader) <a href=\"https:\/\/twitter.com\/Rhythmtrader\/status\/26884098?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 20, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Importantly, while keeping this key factor in mind, it is clear that Bakkt \u2013 should it be met with great popularity \u2013 could provide a significant amount of benefits to the nascent markets.<\/p>\n<p>Sam Doctor, a strategist at Fundstrat Global Advisors, recently spoke about the platform in a recent tweet, explaining that he believes it could be a \u201chuge catalyst\u201d for the crypto markets in the near-future.<\/p>\n<blockquote><p>\u201cWe think #Bakkt could be a huge catalyst for institutional participation in the #crypto market. Here are our takeaways from the Bakkt institutional summit yesterday at the NYSE,\u201d he said while referencing a chart with key takeaways from the summit.<\/p><\/blockquote>\n<p>https:\/\/twitter.com\/fundstratquant\/status\/60917504?s=21<\/p>\n<h2><strong>Will Bakkt Lead to Positive BTC Price Action?<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>Analysts do believe that <a href=\"https:\/\/wncen.com\/2019\/06\/15\/crypto-tidbits-bakkts-bitcoin-futures-facebooks-libra-uber-binance-block-us-clients\/\">Bakkt<\/a> will ultimately alter Bitcoin\u2019s price action, and could contribute to some of the volatility that is anticipated in the coming days, weeks, and even months.<\/p>\n<p>Chonis Trading, another popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, noting that he believes that Bakkt and the CME Futures gap that exists around $8,500 could contribute to a volatile week ahead.<\/p>\n<blockquote><p>\u201c$BTC &#8211; closes out the week with many mixed signals. Bear cross on EMA12,26 Daily but Bull Bounce from EMA12 on weekly and regained cloud support. #CME gap and #Bakkt tomorrow should make for a dynamic week of #bitcoin price action,\u201d he explained.<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> &#8211; closes out the week with many mixed signals&#8230;<br \/>Bear cross on EMA12,26 Daily but Bull Bounce from EMA12 on weekly and regained cloud support<a href=\"https:\/\/twitter.com\/hashtag\/CME?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#CME<\/a> gap and <a href=\"https:\/\/twitter.com\/hashtag\/Bakkt?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bakkt<\/a> tomorrow should make for a dynamic week of <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#bitcoin<\/a> price action <a href=\"https:\/\/twitter.com\/hashtag\/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#cryptocurrency<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin2019?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Bitcoin2019<\/a> <a href=\"https:\/\/t.co\/DtWj3PL7Ti\" rel=\"nofollow\">pic.twitter.com\/DtWj3PL7Ti<\/a><\/p>\n<p>&mdash; BIG Chonis (@BigChonis) <a href=\"https:\/\/twitter.com\/BigChonis\/status\/98982656?ref_src=twsrc%5Etfw\" rel=\"nofollow\">July 22, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As the week continues on and Bitcoin\u2019s price action continues to unfold, it is highly probable that analysts will soon understand whether or not the cryptocurrency\u2019s bulls or bears will take the wheel in the near-term.<\/p>\n<pre>Featured image from Shutterstock.<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Despite facing multiple long delays, the highly anticipated Bakkt Bitcoin futures platform has finally began testing, and many analysts are now noting that the release of this platform could greatly enhance BTC and the overall crypto markets. Importantly, one analyst group is now noting that the official launch of this platform could be a \u201chuge catalyst\u201d for Bitcoin and the aggregated crypto markets, which could ultimately help provide some stability to the highly volatile markets. Bakkt Begins Official Testing of Bitcoin Futures Platform After Six Months of Delays\u00a0 Although Bakkt has been delayed on several occasions, it does appear that the platform is rapidly coming to fruition, which could be a very positive thing for the markets. The key to the Bakkt platform that makes it more advantageous to the markets than other futures platforms is that all trades are physically settled with Bitcoin, which means that all profitable trades are paid out with actual Bitcoin, rather than a sum of cash that is equivalent to the value of the BTC. \u201cBakkt begins testing on Monday. The hype is bakkt with substance though. Unlike other futures exchanges, this is settled in bitcoin. Hard, actual bitcoin is paid out, not fiat equivalent to the price of bitcoin. The result is better price discovery and liquidity for bitcoin,\u201d Rhythm Trader, a popular crypto analyst, explained in a recent tweet. Bakkt begins testing on Monday. The hype is bakkt with substance though. Unlike other futures exchanges, this is settled in bitcoin. Hard, actual bitcoin is paid out, not fiat equivalent to the price of bitcoin. The result is better price discovery and liquidity for bitcoin. &mdash; Rhythm (@Rhythmtrader) July 20, 2019 Importantly, while keeping this key factor in mind, it is clear that Bakkt \u2013 should it be met with great popularity \u2013 could provide a significant amount of benefits to the nascent markets. Sam Doctor, a strategist at Fundstrat Global Advisors, recently spoke about the platform in a recent tweet, explaining that he believes it could be a \u201chuge catalyst\u201d for the crypto markets in the near-future. \u201cWe think #Bakkt could be a huge catalyst for institutional participation in the #crypto market. Here are our takeaways from the Bakkt institutional summit yesterday at the NYSE,\u201d he said while referencing a chart with key takeaways from the summit. https:\/\/twitter.com\/fundstratquant\/status\/60917504?s=21 Will Bakkt Lead to Positive BTC Price Action?\u00a0 Analysts do believe that Bakkt will ultimately alter Bitcoin\u2019s price action, and could contribute to some of the volatility that is anticipated in the coming days, weeks, and even months. Chonis Trading, another popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, noting that he believes that Bakkt and the CME Futures gap that exists around $8,500 could contribute to a volatile week ahead. \u201c$BTC &#8211; closes out the week with many mixed signals. Bear cross on EMA12,26 Daily but Bull Bounce from EMA12 on weekly and regained cloud support. #CME gap and #Bakkt tomorrow should make for a dynamic week of #bitcoin price action,\u201d he explained. $BTC &#8211; closes out the week with many mixed signals&#8230;Bear cross on EMA12,26 Daily but Bull Bounce from EMA12 on weekly and regained cloud support#CME gap and #Bakkt tomorrow should make for a dynamic week of #bitcoin price action #cryptocurrency #Crypto #Bitcoin2019 pic.twitter.com\/DtWj3PL7Ti &mdash; BIG Chonis (@BigChonis) July 22, 2019 As the week continues on and Bitcoin\u2019s price action continues to unfold, it is highly probable that analysts will soon understand whether or not the cryptocurrency\u2019s bulls or bears will take the wheel in the near-term. Featured image from Shutterstock.<\/p>\n","protected":false},"author":499,"featured_media":390675,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664],"class_list":["post-390671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\n<title>Analyst: Bakkt Could be a Huge Catalyst for Bitcoin; Is a Price Surge Inbound?<\/title>\n<meta name=\"description\" content=\"One analyst group is now noting that the official launch of Bakkt could be a \u201chuge catalyst\u201d for Bitcoin (BTC) and the aggregated crypto markets\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/analyst-bakkt-could-be-a-huge-catalyst-for-bitcoin-is-a-price-surge-inbound\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Analyst: Bakkt Could be a Huge Catalyst for Bitcoin; 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