The Bakkt shock: the daily Trading volume of contracts traded on the with so much excitement expected Future Exchange of Bakkt is this Tuesday to 79 percent (!) fallen. Over the entire day (01.10.2019) were traded only 28 BTC contracts. This means that the traded volume is equivalent to just 28-of Bitcoin, and thus a current value of ~225,000 U.S. dollars.The most recent evaluation (23.09) on the topic of Bakkt summarized Mirco in his review on Youtube. A lot of fun Watching!
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Start Bakkt anything other than a success
Although in advance it was expected that the much-acclaimed Futures Exchange would start off slowly, is the current decline in the daily trading volume is a real shock. Because with Bakkt the “large institutional investors should enter” the market, with a daily trading volume of just a quarter of a Million dollars, this seems to convey, however, is difficult.As the Bakkt Volume Bot (@BakktBot) on Twitter-documented, fell by the daily trading volume for contracts on the stock exchange this Tuesday at only 28 BTC. The day before the stock exchange had, accordingly, 132 BTC in volume. The latest data (up to 02.10) show, that could recover the Exchange somewhat of the shock, however, a daily trade volume of 50 BTC is not a reason for euphoria.
ICYMI: Wednesday’s Bakkt Bitcoin Monthly Futures:? – Traded contracts: 50 (+79%)
? Day before: 28
? All time high: 166Follow @BakktBot for realtime updates. pic.twitter.com/oaqVPaLyBv— Bakkt Volume Bot (@BakktBot) October 3, 2019
Bakkt criticism continues to grow – expectations too high?
The week is coming to an end. However, the drastic decline in the last two days, to a total of only 78 BTC in trade volume could indicate that the stock market could finish this week is particularly bad. If there is no “big noise” comes, will be the volume of trade is probably well below the total volume of the week before, which is 5.8 million dollars.Even if the 5.8 million US dollars compared to platforms such as Bitmex, or Binance just too tiny, would be another crash to under 5.8 million fatal. Such a scenario would allow the voices of critics is only growing stronger. There have been “accusations” that Bakkt for the recent double-digit Crash of Bitcoin, responsible. Even JP Morgan has recently placed the blame on the hyped futures exchanges – as a justification for JP Morgan says that the expectations were simply too high set.You don’t want to buy Bitcoin, you know, but where? To decide the right provider is not always easy. Therefore, we recommend that you take the time to look at our Bitcoin Broker & exchanges comparison. Often several providers are already required to really get all the Cryptos to cover. See for yourself: Bitcoin Broker & stock exchange compared with that now read.
Bakkt and the institutional investors – Where are they?
If the trading volume of Bakkt is continuing to decline, or at a similar level of firms, one could assume that the institutional investors “wait just wait to see the Dip to buy”. But if you look at such a low volume, then it is hard to imagine that institutional investors are waiting for “the doors”.The following weeks will be for Bakkt so as groundbreaking if it wants to receive the claim, to be a major force in the world of crypto-currencies. At the Moment it seems so, as Bakkt would have been a great effort to meet the expectations (which have been corrected in the run-up to then still down) at all.In order to make a better assessment of the Trend in the volume of trade meeting, we need to wait for the week, however. So it remains exciting, whether Bakkt rises like a Phoenix from the ashes or as a non-starter will be.The Bakkt shock, the daily trading volume has slumped drastically. What do you think about the future of Bakkt? The institutional investors still come? Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)