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Bakkt Has Been Opened But Bitcoin Fails To Stay Above $ 10,000

The long-awaited Bakkt Bitcoin futures contract has finally been opened, but the response so far has been unsatisfactory. Bitcoin briefly reached more than $ 10 thousand but failed to maintain that level while trading in Asia was taking place. Daily and monthly bakkt which physically completed the Bitcoin futures contract aired for trading a few hours ago, but there was no big fanfare or market reaction. The first trade is executed at 8 pm ET at $ 10,115.

However, this can be seen as a positive development because about one BTC per hour per transaction at the bakkt, if continued at this rate, could be a monumental amount traded for a month. Industry analysts have shown how important Bakkt is delivered physically as opposed to other contracts being concluded in fiat.

It's too early to say whether this prediction has value. When contracts start to be closed and BTC is paid, things tend to start moving in the market. Institutional investors may not want to hold physical Bitcoin for fear of volatility; this is why they prefer futures contracts. The brief surge coincided with the launch a few hours ago when the BTC raised its intraday low from $ 9,850 upwards at $ 10,080 a minute. It remained above the number five barrier for several hours before starting to slide back. There is no large pump but that is largely expected because those who enter the new futures will have already allocated their investments and have gone up.

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