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RE: Good to see Bitcoin drifting higher on the weekends again
I'm suspicious of what the market will actually do when Bakkt is here. The market has a way of pricing the value of these things in before they arrive on the scene. Then when the thing happens the price dips and all the suckers get fleeced.
Buy the rumor; sell the news.
On the other hand, lots of people say this situation is different because the target audience of Bakkt is a bunch of new money that has no other way to enter the market. I'm still skeptical... everyone on Bakkt will be there to make money; not fill up everyone else's bags.
Good points. Though if you recall, bitcoin peaked the last time on the exact day of the previous most anticipated futures launch. Perhaps we see something similar again! :)
I was looking that up a few weeks back and remember the peak being like a week after the futures launch.
The point is mostly moot though seeing as how Bitcoin is in a completely different place both fundamentally and technically at the moment.
Yep, that was at the end of a cycle and we are just starting one now. Plus it was likely easier to manipulate prices in 2017 than it is now.