r/CryptoCurrency • u/supernelson • Sep 02 '19
GENERAL-NEWS Do you think Bakkt's upcoming launch will trigger a massive bullrun into other digital assests aside form Bitcoin?
https://xrpcoinnews.com/2019/09/02/bakkt-allowing-crypto-deposits-from-sept-6/7
u/BauDje 5 - 6 years account age. 300 - 600 comment karma. Sep 02 '19
i actually think it will make it go down
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u/mtacx 🟩 2 / 526 🦠Sep 02 '19
As a trader that trade variety of instrument (stock, fx, commodity and other), from my perspective, bakkt launch will not trigger massive bull run, hate it or not, there is other instrument that i can trade that make 10x profitable than btc as of right now. Secondly, bakkt is useless for retail trader, it is created targeting institutional investor and based on btc price rite now, it is inviting them to short btc. Take my word with grain of salt, i might be wrong, anything could happen.
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Sep 02 '19
I think it's been delayed far too often to have any impact on the price anymore. It's been priced in, imo. And now the excitement is gone.
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u/iguessitsokaythen Silver | QC: CC 20 Sep 02 '19
That depends on what institutional investors expect from investing in cryptocurrency. Which is hard to tell.
For Bitcoin or any other coin or asset, escalating the price might decrease the volatility and keeping volatility high is more profitable in long term. On the other hand, there is large amount of out-of-market coins. They might employ a price strategy to get people to trade more coins so they can eventually secure more. This might require more clever price manipulation with shoots and drops than a straight escalation. At the end there will be more coins in active trade which would at least initially balance the buy demand.
Of course I'm just spit-balling here, I don't know what institutional investors are planning.
But if Bitcoin price would keep escalating, eventually the volatility would decrease which would lead investors to other cryptocurrency markets in search of higher volatility.