Yes agreed. I have not seen one magic crypto or platform launch that moves market by itself.

Well, it might, although the chances are slim. Nothing ever goes as planned with Bitcoin. It is possible that something will happen soon regardless of Bakkt, Bitcoin's recent stability is not something that will stick around for long, that's for sure.

Probably we can see a boost, but not that bull run that we all have been waiting for. There could be new money coming in the ecosystem, but I don't see that it will be enough. Bakkt made noise last year, unfortunately it took a while before they got the approval, and the hype has died down already. So don't expect a similar scenario like 2017 here, so that you won't get disappointed in the end.

I am with you. I won't expect too much on Bakkt issue. Bakkt may bring something good but it should be temporary impacts.


In fact, it is not like all investors expect. There is always a delay after delays. And finally, they are bored with Bakkt. Then, the hype has already gone.

I think Bakkt is the only thing that would move the price upward this year. I mean, it would give way to other investors and common people to have Bitcoin so more users are able to join in.
 
Although Bakkt is good news to us, I don't think that Bakkt would suddenly make Bitcoins price pump. That author is I think exaggerating it to produce more hype for the project.

On the contrary I have a different thought! I remember similar kind of discussions happening during the launch of CME's bitcoin future and I have seen a lot of people were optimistic about it without knowing the ground reality, that CME wasn't offering physical bitcoin settlement.

So in the case of Bakkt, it is way different because Bakkt is aiming to offer physically settled bitcoin futures contracts. This actually will help to increase the demand of bitcoin in the market, which wasn't the case of CME!

I don't see anything created from thin air in Bakkt! It's robust plan to offer institutional and accredited investors a physically settled bitcoin contract can impact the market very positively! Probably it will provide the necessary stimulus that the crypto market is looking for!

Bitcoin does not depend on bakkt or else, and bitcoin will increase at the right time, which all people don't know when. That is great if there is any approval for the other, but I don't think that it will push the price to increase or rally after it's release. But if after it's launch the price can increase so high, and even the price can start the rally, then it will be good for us because we see the next of bull run that will happen after the approval. But still, we need to be patient until the time for the bull run comes.

Like what happened after April Fools Day and the announcement of Facebook’s Libra Coin, I think it’s possible. However, I wouldn’t fully count on that though.

Right now, we are experiencing a pullback from $10.2k to $9.9k of BTCs price. Ethereum and others are also having a slight pullback.

I just don’t know if this is actually another accumulation strategy of the bear whales in preparation for Bakkt’s arrival. I could be wrong or right, but time will tell.

We will see that in more days to come. Cheers!

I believe that Bakkt will have a significant impact on bitcoin price in the long term because now institutional investors can trade bitcoin on "regularized"/professional exchange. But in the short term I don't think it will have major impact on the market price.