Is it a good idea? Will it be successful? Will it hurt/help ETN? Will it cause a bullrun?
BAKKT will boost price for BTC since it will physically purchase and deliver equivalent amount in BTC of what their clients invested
My two cents on BAKKT:
I think a bull-run will initiate this year, but unlike last year, it won’t run its full course until sometime within 1st quarter of 2019. Bitcoin will lead the charge and all other coins will follow, as expected. I believe one of the main drivers behind this run up will be due to BAKKT. The number of institutions participating in this new index will literally have no choice but to fill their inventory with Bitcoin before they are able to facilitate their services to the public. There’s no quiet way for institutions to load up on bitcoin without causing an overall increase in volume and ultimately price. Sure, they can stagger their buys to be less obvious, but overtime there will be an overall trend increase that will become undeniable.
This increase in volume and price will inevitably generate FOMO in both individual investors, as well as your institutional ones. Despite having deep pockets, these corporations are no different then anyone else when it comes to trying to establish the highest profit margin possible. In other words, nobody is going to be sitting on the sidelines during the next run up. Especially when the world has seen just how high Bitcoin has already risen. Not to mention all of the prophetic-like price predictions placing bitcoin into the hundreds of thousands, even millions, in the distant future. Regardless of how improbable those projections may be; The fact of the matter is that there’s no other coin right now that has a speculative ceiling higher than Bitcoin.
That said, I do believe the on ramp for allowing institutions into the crpto space is currently being developed now (BAKKT). Its about six months away from being fully realized. Once active, it will allow significant amounts of new money into the crypto space from Institutional investors which will raise the overall total market cap; While simultaneously aiding in legitimization efforts via everyday use and acceptance of the coin across the general population, primarily within the western markets. This will be achieved by way of the various resulting partnerships and products (Starbucks, Microsoft, ETFs, etc…) that originate from that project.
I don’t know about anyone else but I can’t wait to fast-forward to Jan 1 2019 to see where things are. Good luck to everyone out there!..
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You raise many good points, but the conspiracy theorist in me is telling me that institutions and wall strett want the price to be as low as possible so will do whatever is neccessary to curb the impact that BAKKT could have. Call me nuts if you want, but it just feels too easy for people to buy a ton of btc now in anticipation of bakkt creating a bull run, only to be caught off guard once bakkt does arrive.
good answer. so obviously you think it will help, not hurt ETN?
The core of my question is “BAKKT vs. ETN”. seems to me BAKKT will seem redundant given the fact that ETN’s api will make it so easy to integrate/spend ETN. I’m all for the over all market going up as a result of BAKKT, but I want ETN to dominate the market.
In short, yes. I think BAKKT will only help Electroneum. Regardless of the newfound redundancy between it (bitcoin) and ETN once it goes live.
Remember, BAKKT will be mainly tied to the US while Electroneum’s utility and scope is global.
A rising tied floats all boats in crypto.
A bull raise will affect positively on ETN and all other currencies, classic too. Must be a move for raise the currencies, considering that, Q3 2017 btc had touch 12k,january 2018 20k and february collapsed until 6k. And today is 5,5. There is a global negative feel that hit all the markets, New York for first. Because nobody really trust that behind BTC there is a japanese like “satoshi” make it seems…
Of course, i suppose this, but i’m not a financial agent. I’m only an economy-science lover
It does not appear to me that etn’s api is going to make it easy to spend etn. The yoti app refuses to accept my state drivers license. I am tired of messing with the stupid app. Im just going to move all my coins to the exchanges instead. If etn wants to bring crypto to the masses they need to figure out how to make things less complicated. It is already too complicated of a process to even buy cryptos in the first place. Adding more to that is not a good thing if you want mass appeal. Anyone can get a job and make/spend fiat money with no complications. Why would anyone in their right mind want to go thru a bunch of extra crap just to spend their own hard earned money?
Level 3 here! The process was a breeze…
Interesting video on Bakkt and questions whether its really as good for bitcoin and crypto as a whole as people say…
