It’s been five days since the launch of the platform Bakkt. Many members of the crypto community for this event because the project was intended to open the way for the cryptocurrency to institutional investors. His vision of how affected the start of trading on Bakkt on the market of digital assets, with CryptoFound shared by the President of the Board of Directors of the Swiss-Eurasian Innovation Platform INNOVARE Nelli Orlova.
The specialist noted that market participants expected opening Bakkt more than a year. Many predicted that the long-awaited launch will entail a strong uptrend. In her opinion, such provisions can be explained.
“For the first time in the history of bitcoin began to trade on Wall Street. The trend, in fact, as can be seen from the graphs, was formed some time ago, but expect a lot of explosive growth in prices has not occurred. There are several logical explanations.
First, the day the news about the launch of Bakkt we see that the volume of bitcoins traded on 10 major stock exchanges is still very low, at 360 million dollars. Obviously, it needs to grow in the coming days / weeks, but for now, in this volume, it is strange to expect high volatility.
Second, many decided that since institutionally come into bitcoin, this will happen after the launch Bakkt in the form of direct purchases of BTC on the market. This is not so. The majority of institucionales counting on the launch of Bakkt, have joined in BTC previously and, very likely, it can be seen in the rising fluctuations of recent weeks”.
While Nelli Orlova believes that in the medium and long term run Bakkt likely to have a positive impact on the bullish sentiment of traders and will increase the market price of BTC.
We will remind, earlier CryptoFound collected
opinions of experts concerning prospects of further development Bakkt and the potential impact of the platform on the market digital assets.