10 days before the opening of trading bitcoin futures on cryptoperthite Bakkt experts told CryptoFound his opinion about the possible impact of the event on the exchange rate of the cryptocurrency.
The lawyer of the company Profinance Arthur Ibragimov said that the launch of Bakkt, launches futures trading on bitcoin will certainly contribute to the growth of the bitcoin and other major cryptocurrencies. However, the expert suggests that the explosive growth similar to that which was in 2017, should not be expected.
« In addition to Bakkt run and other major venues. Growing interest in the cryptocurrency how to invest-product and by institutional investors. Is the legalization of cryptocurrencies in many countries have taken appropriate new laws being finalized existing legislation. All this leads to the fact that the market is becoming more civilized and stable, less volatile. It will also contribute to the growing interest in cryptocurrency and, accordingly growth rate », – said the expert
Also your opinion with CryptoFound shared the chief investment officer GBIG Rufat Abasov.
« Against the backdrop of global tensions in the world related to trade wars US-China, and the situation around Brexit, and a local « over-heating » of the US stock market, bitcoin, along with gold, continues to be one of the most underrated instruments of capital preservation in the long term. »
The expert drew attention to the fact that the entry into the industry of professional participants, the launch platforms Bakkt of ICE (the parent company NYSE – new York Stock Exchange), scheduled for September 23 and Fidelity of Digital Assets for institutional investors, as well as the possible approval of a bitcoin ETF from VanEck until the end of the year, increase confidence and investment attractiveness of bitcoin in the medium term.
« Indeed, in the case of entry into the U.S. institutional industry giants with tens and hundreds of thousands of client accounts under management, this still immature market can expect traffic in the hundreds of percent, and investors willing to take high risks – high returns, » concluded co-chief investment officer GBIG.
The founder of the platform ECOSYSTEM KICK Anti Danilevsky, in turn, believes that no one is able to give a definite answer about how it will affect bitcoin futures Bakkt on the exchange rate of the cryptocurrency.
« There is a high probability that the impact will be extremely positive: institutionally will be able to buy it. However, the very possibility of purchase does not mean that it will happen. As an example, you can bring all the expected ETF, however after their appearance on some exchanges, the rate still continued to plummet. Perhaps in the case of Bakkt the situation will be similar. Not the fact that the tool be used immediately – it is very likely that it will take some time for investors to actively invest their money, » – said the expert.
Also Anti Danilevsky considers that it is impossible to forget about the high volatility of bitcoin.
« Most likely it will want to invest only institutionally a portfolio which includes high-risk assets, which normally account for 10-15% of total portfolio max. So personally, I’m not expecting any miracles from that Bakkt starts. The project is really interesting PR ».
« Recently there have been news that was was a translation into 94 504 BTC, or approximately $ 1 billion. Funds were aggregated from 15 of the main purses and a multitude of small, but who is and who sent such funds is unknown. I guess this event is, precisely, part of the PR campaign prepared Bakkt, in order to demonstrate to the community that the assets are in your project. I can’t say that this is true, but cryptologist most inclined to such opinions. However, if you think about it, for the really large funds, the amount is not so large, » – said the expert.
The founder of KICK ECOSYSTEM draws attention to the fact that in any case the launch Bakkt the launch of the platform is definitely worth to evaluate how positive shift in the industry towards the development of major companies and organizations in the market.
« For the entire crypto community is great news, and the launch Bakkt really long-awaited event, especially given the long standoff with the branch regulators, who conducted a very thorough check of the project », – added his thought Anti Danilevsky.