Rumor: Bakkt may launch Bitcoin Futures as soon as first week of November
Bakkt and their physically backed Futures Contracts may launch as soon as the next few weeks.
In an unconfirmed report out of cointelegraph, an anonymous source said that regulators could make a decision on Bakkt futures as soon as next week.
The quote mentioned in cointelegraph can be seen here:
"Should regulators give the project the green light, ICE’s Bakkt will begin launching its Bitcoin (USD) Daily Futures Contract for clients as soon as the first week of next month, according to an unnamed source with direct knowledge of the situation."
It is widely believed that Bakkt will receive the green light, but most were not expecting the actual green light to come until somewhere in mid to late December.
The latest rumor would speed up that timeline quite dramatically.
Is there any truth to this?
That is the million dollar question.
Any time someone cites an unconfirmed anonymous source, everything thereafter needs to be taken with a giant grain of salt.
Especially in crypto land.
That being said, it does sound like Bakkt and their bitcoin futures products are coming in the very near term.
Either way, these products are coming.
Whether that happens in the next 2 weeks or the next 2 months doesn't really matter to me, the bottom line is, they are coming.
If there really is pent up institutional demand for bitcoin, the price of bitcoin is likely going higher when these products launch.
Also, if last year is any indication, bitcoin ran up substantially leading up to the launch and just so happened to peak on the exact day that bitcoin futures products were launched.
If history were to repeat this year, we would expect to see a substantial rally in the coming weeks. Except this time it likely wouldn't peak when they launch because these futures products are actually linked to bitcoin.
Stay informed my friends.
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Only rumor. !!! 😂
Correct. We will see if there is any truth to it in a few weeks.
I want my baby BAKKT baby BAKKT baby BAKKT!
😂🤪😂
Ribs!
Nice!
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I thought so as well.
Is November a +gains performing month? We shall see!😁
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Traditionally, it is the best month of the year for bitcoin. :)
Question: If the same amount of people who use the other two futures contract platforms use this one, is it going to actually matter?
Yes because every contract will be tied to actual bitcoin. Meaning every purchase will be as if someone bought bitcoin in the spot markets, well almost.
The other futures are tied to the price of bitcoin only. They are cash settled, not physically settled in bitcoin. Big difference...
This is interesting because it brings the whole bitcoin ETF potential back on the table if the launch goes successfully and they are able to establish a liquid market for the regulators to feel better about... Time will tell!
Yep, exactly. It is significant on several levels.
When are we going to get some STEEM futures?
Now that would be nice. Though I would settle for being able to buy steem directly with fiat somewhere. :)
Why not both? :)
Expecting a further sell-off if they really launch the BTC Futures @jrcornel?
Nope, I expect a rally. Possibly a significant one.
I also believe that we reached our bottom, but it might take a while until this rally begins. I also read that this next rally might be the biggest that we've seen yet.
Yea I don't think we see a massive surge until late 2019 to be honest. Though I don't see us going any lower than $5k on one more wash out.
When
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We will know more in a few weeks.
they will blow away the crypto prices to sky rocket hopefully