The long-awaited launch of the Bakkt whole thing blew over. Where is everyone, fireworks are expected, we have had a wet aansteeklont. For the first few days was there, but the 60-bitcoin in trading volume. The perception is that the Bakkt now has been a failure.
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This is the beginning of a slow development
But Jemima Kelly in the Financial Times, is of the opinion that this is just the beginning of bitcoins for financial legitimacy, and is not a bonus within no time at all, the price for greater heights, it helps to increase.
It was expected that with the launch of the Bakkt, the instant tons of institutional money would flow. The figures are the opposite of left, but for many it will be a disappointment.
However, if you only have the figures for the first few days, take a look, you won’t miss the ‘big picture’ and the importance of Bakkt.
It’s the best money is smart money. And the smart money is holding, according to Kelly, is not of a short, well-focused betting in an extremely volatile asset class.
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With competition from all sides
A lot of analysts believe that the most important addition is that of Bakkt, that is, the futures contracts using bitcoins is to be dealt with, rather than in dollars. This is a milestone event that is achieved should be for the price of a bitcoin up and down. That’s one of the reasons why the development of the Bakkt, as long as it has taken a while, says Craig Pirrong at Streetwise Professor.
Because contracts are awarded on the Bakkt can be done with bitcoin, they don’t have competing parties, such as CME, but with the online crypto exchanges.
Bakkt has to be something that a lot of the online exchanges don’t have: credibility.
Most of them are unreliable
A few of the big and trustworthy exchanges are the most bitcoinbeurzen still a bit shady. This can be seen from an examination of Bitshares. Which trade shows get their revenue from a wash-trading and ” pump and dumps. At these fairs, it is difficult to see the value of a bitcoin is determined. Stablecoins to play a big role in that. You can get your altcoin or bitcoin: fast and easy trading for those coins.
As Bakkt have to adhere to more stringent rules than most of the other online crypto exchange, it is expected that the arbitrage with bitcoin, and stablecoins are almost impossible.
And that inspires confidence in investors. That trust has paid off in a stable partnership with Starbucks, and Microsoft.
Bakkt correct price
Kelly further writes that some might argue that the volumes of the Bakkt is currently too low to make a meaningful difference to make. But she says she is not sure that really matters:
“As the market is extremely wrong price tag on it, it does not cost a lot of volume to the price move in the opposite direction to make it move. It’s nice to Bakkt that is, if there is an imbalance between buyers and sellers, which in the end must result in the price of a bitcoin is expressed in terms of real dollars. And not in a tether.”