Crypto-community responds to Bakkt, but not everyone is dumb
The news that final government approval has been granted to Bakkt has generally been perceived as a good fit for the industry. However, not everyone in the crypto environment is convinced that it is the best for Bitcoin and its brothers.
How Bullish Is Baked?
As reported yesterday by NewsBTC, the Intercontinental Exchange (ICE) new crypto trading platform has finally received a clear signal. A launch date of September 23 is set after approval by the authorities of the Commodity Futures Trading Commission (CFTC) and the New York State Department of Financial Services. It may well open the gate for institutional investors and could be a huge step forward for the crypto industry legitimization in the United States.
The concept of physically delivered bitcoin futures supported by the New York Stock Exchange may be the catalyst that takes BTC to mainstream consumer markets. Not everyone is convinced, as comments on crypto-twitter today reveal. Crypto-analyst going after the handle & # 39; CryptoChartsJoe & # 39; has predicted an upturn before its September launch, when a big dump goes live:
“When it comes to the # Bakkt news, expect the crypto market to get a bid and run hard. So, the day #Bakkt actually goes live, it will be a sale in the market !! Again, Wall Street is best for breaking hearts and stealing souls, ”
Think Like a Criminal ??
When it comes to the #Backed news, expect the crypto market to get a bid and run hard up.
When that day #Backed actually goes live, there will be a sale in the market !! Again, Wall Street is best at breaking hearts, and stealing souls ???
̵[ads1]1; @CryptoChartsJoe (# bullmarketstartes08 / 19) (@CryptoChartsJoe) August 16, 2019
Wall Street involvement in Bitcoin rarely becomes met with enthusiasm. The ability to short the asset as seen in CME futures markets leads to market manipulation which is still a concern for retailers. Computer scientist & # 39; CryptHawk & # 39; repeated the mood tweeting ;
"Not even going to comment on #BAKKT so it is useless and adds more manipulation, BS and scoundrels!"
Short BTC Price Movements [19659003] A crypto analyst has looked at potential price impacts and asked for a break in the drawback when Bakkt is launched.
“I think we will stay within this wedge of #Backed Futures launch on September 23….
Which coincides with the end of the wedge!
I predict it will break. "
Here is my current analysis for #Bitcoin :
I think we will live within this wedge area until #Backed Futures Launch September 23 …. [19659004] Which coincides with the end of the wedge!
I predict it will break down. ?? pic.twitter.com/4vLsBPRVXh
– WelsonTrader ? (@WelsonTrader) August 17, 2019
“I think we will stay within this wedge of #Backed Futures launch on September 23….
Which coincides with the end of the wedge!
I predict it will break. "
Here is my current analysis for #Bitcoin :
I think we will live within this wedge area until #Backed Futures Launch September 23 …. [19659004] Which coincides with the end of the wedge!
I predict it will break down. ?? pic.twitter.com/4vLsBPRVXh
– WelsonTrader ? (@WelsonTrader) August 17, 2019
When the news barely broke the BTC price. The markets have been choppy this week and two falls in four figures have been recovered, but Bitcoin is still facing strong opposition where it is currently trading. A move up to around $ 10,400 was all it could muster and the King of Crypto nearly 12 percent at this time last Saturday.
The baked news has not affected Bitcoin prices in the short term, and while many are of the opinion that it is overwhelmingly bullish, not everyone shares that sentiment.
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