In three days, the crypto market is going to see a massive event: after countless regulatory setbacks and a long development process that ran longer than expected, Bakkt is going to launch its physically-deliverable Bitcoin (BTC) futures contracts.
Bakkt, a Bullish Bitcoin Business
For nearly a year now, crypto investors the world over have been eagerly waiting for the exchange with breathless anticipation. First announced late in 2018, the Intercontinental Exchange-backed Bitcoin platform was billed by optimists as the catalyst that would kickstart BTC’s next price rally to fresh all-time highs. But, as aforementioned, Bakkt has been subject to many setbacks, resulting in delays upon delays.
But there should be delays no longer. On September 23rd, the real floodgates are expected to open. And analysts say that this event will have decisively positive effects on the Bitcoin markets.
In a recent tweet, Fundstrat Global Advisors’s Tom Lee said that he is “positive on Bakkt” and the exchange’s ability to “improve trust with institutions to crypto”. Indeed, with the backing of one of the most prominent and important financial institutions and legendary corporations (Microsoft, Starbucks, etc.), Bakkt is likely to draw in firms previously hesitant to down the cryptocurrency-flavored red pill. Source...