The Bakkt platform launch has been Postponed for Bitcoin Futures
The New York Stock Exchange has just announced their decision to postpone the launch of their highly anticipated Bitcoin Future trading platform until later in January 2019. On November the 21st they released a positive update on why it is now prioritizing Bitcoin.
The Bakkt company noted on bitcoin in 2-part twitter and bitcoin has become their primary focus due to its high Liquidity, and improving customer demands, in classification as a commodity by the US Commodities and Futures trading commission (CFTC).
Even after the recent downfall of Bitcoin price, the BTC price has still remained king, Bitcoin currently only holds 53.1% of all the total cryptocurrencies on the market capitalization and is also the most known and adopted cryptocurrency for the future.
The Bakkt Postponement of the Bitcoin Futures raises the attention of users
According to a few reports coming from the Bakkt company on November the 20th 2018, they have delayed the launch of the Bitcoin futures trading platform until January the 24th 2019. The delay was announced a day of the fall of the price of the Bitcoin Cryptocurrency market. Bakkt provided the reasoning behind this decision in an Official medium post written by Kelly Loeffler, CEO at Bakkt. In a post that was written, she stated that there is more to work on than most think.
The time of this announced has raised some questions, however, as it leaves a lot of people still speculating as to why the Bakkt decided to postpone their launch. There have been some talks about the Bakkt platform in the community as they may be trying to manipulate the market by announcing these kinds of bad news to further push the market down.
However, it is worth keeping an eye on the Bakkt and other institutions in the Blockchain industry to see how they handle the cryptocurrency market.
Bitcoin still has a very bright future ahead of it as there has been a lot of interest in the technology coming from institutions. In the recent months, there have been cryptocurrency reports from KPMG’s , Binance CEO changpeng Zhao and bitcoin supporter Mike Novogratz predicting the institutions that embrace inevitability that is circulating in the crypto community.
What is your opinion on these developments in the market? Please feel free to leave your comments down below.