The Bitcoin Futures
Now that Bakkt is coming and since there is going to be a future, the question that everyone asks is that if he has the approved futures and that will achieve a big increase in prices, to begin with Bakkt is not going to buy bitcoin since he bought the bitcoins and did it before making your announcement, what you are going to have is trading, an exchange, there is going to be a futures market in bakkt, the market is already reacting to the news, we have seen a lot during all these months price jumps when there are announcements and when the day arrives that the news is fulfilled the same one collapses, this because rarely the facts fulfill the expectations of the news then normally the rumor is bought and the news is sold, that is to say it is very It is difficult for Bakkt to change the price when it starts and the news is known for weeks and the price is the same.it can be said that the market has already reacted to those of bakkt it is very difficult that this time it is different.
There are going to be more futures and when there was a futures the previous time we had a big price jump but they were the first futures, let's say that the expectation of the first time there were bitcoin futures has passed, so I do not think it is so likely that There may be a jump because there could be many people waiting to trade in that exchange, the expectation in that sense I do not have it very high because the news has been confirmed for a long time and it is this that makes the price move, just as I arrived a moment that no longer fell the price with the bad news because when the sec was saying that an eth was rejected at the beginning it affected the price to the downside, but then those rejections of etf no longer altered the price,because everyone was already taking it for granted that the etf were rejected then the price did not fall again.
There is one thing that should be taken into account and is that there was a product of coinbase a fund of crypto oriented for institutional investors and now they canceled it, coinbase turn off the index focused on that sector will be formally closed at the end of this month and customers will be directed to other types of products, and will focus on a diversified exposure, that is, they will close this product oriented to institutional investors because they have no demand, so the subject of futures and all this of bakkt I hope that the situation changes but what is happening is the opposite, what is happening is that the news marks the price and that there is not going to be a peak of unexpected volume.
What is happening now is a very unusual price tightening at least in recent months, the price stability of these days has been the longest we have had in 2018, perhaps this is the largest indicator to take into account to say that something could happen at any time since many days have passed without anything happening, rarely spend so many days in such a volatile market why there is interest that there is volatility in this market because most of the trading volumes are not it is buying volume to retain, for example in coinbase only about 30 million dollars are bought.