COSS Team
COSS Team
Aug 20 · 3 min read

Somewhere between ‘wen moon’ and ‘wen Bakkt’ we grew up.

Just as it seemed like Bakkt would never see the light of day, at 11:15 AM Eastern Time, this happened.

Bakkt broke the news that it has finally got the green light from CFTC to launch its physically-settled Bitcoin Futures trading platform.

Market Analysis

At the time of the news, experts were calling for $9,000 BTC with the bearish trend continuing over the weekend.

Minutes after Bakkt made its grand re-entry into the news, Bitcoin price spiked from near $10,000 to a just under $10,500.

Notable Cryptocurrency Influencer and Co-founder or Morgan Creek Digital, Anthony Pompliano said (regarding the Bakkt news) that the future is being built in front of our eyes.

Price Movements

With Bitcoin getting a quick price surge to $10,500 after the news, it seems like the World’s largest Cryptocurrency has broken its bearish trend and will keep testing the $9,500 and $10,500 range for a while.

Interestingly, many traders are calling out for a drop in BTC price after the Bakkt scheduled launch on September 23rd.

@CryptoChartsJoe predicts a market selloff on the D-Day as well.

While liquidity and price movements up till September 23rd will benefit short term traders, in the long term, a physically-settled Bitcoin platform like Bakkt is overwhelmingly bullish for Bitcoin.

What do you think? Does Bakkt make you Bullish or Bearish about Bitcoin?

We’d love to know your thoughts below.


COSS Official

COSS: Crypto One Stop Solution. Trade cryptocurrencies, store your digital assests in a multi-blockchain decentralised wallet and showcase your innovative Blockchain projects all on one platform.

COSS Team

Written by

COSS Team

COSS is a Singapore based cryptocurrency exchange trading both Crypto and Fiat pairs.

COSS Official

COSS: Crypto One Stop Solution. Trade cryptocurrencies, store your digital assests in a multi-blockchain decentralised wallet and showcase your innovative Blockchain projects all on one platform.

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