Will the launch of Bakkt's Bitcoin Futures beta affect BTC prices?

Will the launch of Bakkt's Bitcoin Futures beta affect BTC prices?

The cryptographic community has long been waiting for Bitcoin Futures from Bakkt. After many delays and uncertainties, the company finally revealed that Bakkt would launch a validation test on Monday, July 22, two days after the fiftieth anniversary of Apollo 11.

Adam White, Bakkt's chief operating officer, recently explained in a blog post that Bakkt and the Intercontinental Exchange (ICE) have embarked on this difficult path to deliver the bitcoin futures market to various institutions and various consumers. Adam explained:

"This is not a small step, this launch will lead us to a new standard for accessing the cryptography market."

Compared to other markets, institutional participation in cryptography remains limited due to limitations such as infrastructure market and regulatory certainty.

This translates into lower transaction volumes, lower liquidity and lower price transparency than more established markets, such as the ICE Brent Crude futures contract, which has gained global confidence in setting global crude prices. "

Although this is simply called a "user acceptance test" and involves only a few "testers", many people have begun to speculate whether it will affect the price of Bitcoin or not.

I remind you that Bakkt wanted to launch Bitcoin Futures at the end of 2018, but this deadline has not kept its promises and has been postponed. We now see Bakkt set a test date that can show that the company has finally complied with the necessary rules and regulations and resolves all the concerns of the SEC.

Since this "user acceptance test" is only in beta and will be available to a limited number of people, this in itself is unlikely to influence the price of Bitcoin. However, it is clear that if the test works successfully, "real transactions" can occur, so that some investors can start and speculate from the beginning. Even if it will not be a big price increase, it could shake a little.

But the certainty is still that no one knows it. Bakkt has postponed this plan three times. But this test phase can show that the company has evolved considerably and can put an end to the development of this relatively new financial instrument. As mentioned above, Bakkt wants to launch Bitcoin Futures by the end of 2018. The launch of the original product could take a few weeks, maybe even a few months.

However, some experts have expressed concerns about US government regulations. Since the announcement of Libra, Altcoin and Bitcoin, in general, have received considerable attention from all governments around the world, including representatives of central banks, and so on. As president, Trump does not believe in Bitcoin and cryptocurrency as a whole.

Although among all the interviews, one thing is clear: Facebook Balance is worse than Bitcoin, because nothing explains how rules and regulations will be developed and updated in relation to this problem.

It may be that when Bakkt decided to launch its Bitcoin Futures product, the US government may have found a series of regulations prohibiting Bakkt from supplying its products. However, suppose that Bakkt planned it and complied with all necessary regulations and licenses. We are waiting for it.
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