Bitcoin futures contracts have made somewhat of an impact on the world’s leading cryptocurrency’s price. That in itself is always interesting to keep an eye on, although it seems the mainstream couldn’t care much less about these trading vehicles. Bakkt is scheduled to “launch’ its own Bitcoin futures in the coming weeks, albeit it is important to acknowledge what is going exactly.
A Beta Launch Happens on July 22
Contrary to what some people may assume, Bakkt will not roll out its actual Bitcoin futures to the masses in just over a week from today. Instead, the company will begin testing this product and the underlying infrastructure to see how things will evolve. This phase is referred to as “user acceptance testing”, which means not everyone will be able to access this testing environment. It is a “glorified” beta test of the products, and should be treated as such.
Price Impact Will be Minimal
Although the beta testing of this Bitcoin futures trading vehicle could spark a massive BTC bull run, it seems incredibly unlikely that will be the case. The general consensus among traders and enthusiasts is how the beta launch – as well as the full launch, whenever it happens – is already factored into the current Bitcoin price. That is something to keep in mind at all times, primarily because the value of BTC has fluctuated quite a bit in recent weeks. Rest assured it has nothing to do with Bakkt or its upcoming user acceptance testing.
When Will the Actual Launch Happen?
There is a lot of conflicting information in that regard, albeit it is safe to say no one knows for sure at this time. More specifically, Bakkt initially expected to launch its Bitcoin futures in late 2018, yet that deadline was pushed back significantly. Read More at NullTX...