The Bitcoin exchange rate, growth of the cryptocurrency startup Bakkt
Platform Bakkt officially confirmed the date for its launch. The official launch of cryptocurrency platform Bakkt will be held this year, December 12. This was reported by representatives of the operator of the new York stock exchange Intercontinental Exchange (ICE).
As expected, this has a positive impact on the entire industry of crypto-currencies and improve the Bitcoin exchange rate as Bakkt will be the first platform for trading of cryptocurrencies institutional investors. The first product platform will become the bitcoin futures with physical delivery of an asset that is an important difference and relates them to the less speculative instruments than on non-deliverable (settlement) bitcoin futures on the CBOE and CME exchanges.
It is important to distinguish futures Bakkt leads to the fact that in the future we will be able to see the price increase of Bitcoin because the exchange involves a real transaction with real buying BTC, and not just the game on the difference in rates. Institutional players, as expected, will buy large quantities of Bitcoin, which consequently lead to higher demand for the asset and the natural growth rates of the latter.
The operator of the new York stock exchange Intercontinental Exchange (ICE) reported that a cryptocurrency will be in store digital assets with ICE. Unit exchange ICE Clear US will be engaged in the clearing of futures contracts. The company explained that each futures contract, which paid the American dollar, provides for the delivery of one bitcoin.
ICE announced its intention to develop a fully controlled ecosystem of digital assets back in the summer. Earlier it was planned to open trade bitcoin against the three Vietnam currencies, but in the latest report we are talking only about the American dollar. The project partners will make Microsoft, Starbucks and BCG.
While the market did not react to the message about starting Bakkt. Bitcoin is trading stable in the framework of the side corridor $6165-6800, the current cost is $6381 (Coinbase). The total capitalization of the cryptocurrency market is $208 billion. The flat in the pair BTC/USD has been observed since 6 September, for about 2 months. Let me remind you that the longer it lasts, the stronger the subsequent move. Maybe start Bakkt will be the catalyst for a market.
“International Financial Center”