For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as a potential event that will on-board a significant amount of institutions to the crypto markets, therefore catalyzing the next major Bitcoin bull movement.<\/p>\n
Now, the markets are only a few days away from the launch of this platform, and analysts are closely watching to see how the introduction of physically settled futures could impact Bitcoin and the aggregated crypto markets in the near-term.<\/p>\n
Bitcoin<\/a> has been caught in a bout of sideways trading over the past several days and weeks, ranging between<\/a> the lower-$9,000 region and the upper-$10,000 region, with major support at the former price level and resistance at the latter.<\/p>\n This sideways trading, however, may soon come to an end as Bakkt\u2019s launch looms on the horizon, with their physically settled Bitcoin futures platform launching on September 23rd.<\/p>\n Some analysts believe that the launch of Bakkt coincides closely with the apex of the large triangle that BTC<\/a> is currently trading within, which may mean that the platform\u2019s launch will come about as the crypto makes a massive movement, but it is unclear as to whether or not this correlation will equate to causation.<\/p>\n John McAfee, an outspoken crypto bull, noted in a recent tweet that he believes the launch of Bakkt could jump-start widespread crypto adoption.<\/p>\n \u201cBAKKT goes live tomorrow.\u00a0 It is an institutionalized exchange so I won’t be using it, but institutions will feel a level of trust that they had not had. It could jump-start Ctypto adoption. But remember – it is the opposite of freedom’s movement,\u201d he noted, further adding that he had the date of the platform\u2019s launch mixed up, as it actually launches on Monday, not tomorrow.<\/p><\/blockquote>\n BAKKT goes live tomorrow. It is an institutionalized exchange so I won't be using it, but institutions will feel a level of trust that they had not had. It could jump-start Ctypto adoption. But remember – it is the opposite of freedom's movement.<\/p>\n — John McAfee (@officialmcafee) September 20, 2019<\/a><\/p><\/blockquote>\n\n