After a Bakkt delay line, bitcoin prices rose from $4050 to $4560

In the past 12 hours, bitcoin prices have rebounded from $4050 to $4560, or more than 12%.

Similar to Coinbase, Bitstamp and Kraken in the main encryption currency exchange, bitcoin fell to $4030 in a short period of time, and quickly return to $4200. Finally, BTC rebounded to $4500, some $4000 in low resistance area.

Bakkt dispute

In November 20th, the New York stock exchange parent company ICE released a Bakkt bitcoin futures market postponed to January 24, 2019 issued a statement.

ICE official documents show that before the opening of futures market, it needs more time to deal with customers and clearing membership problem.

The announcement of the excerpts:

“ICE Futures US, Inc. 1 2019 24 will be April day (Wednesday) listed on the Bakkt trading bitcoin new (USD) daily futures contracts, but must be approved by regulatory agencies. The new schedule will be listed for the customer and the clearing member before the new deal and the warehouse entry provide extra time.”

After the announcement, there are rumors that Bakkt delays the BTC prices, but the information was leaked to a small number of large investors encryption currency market.

Some people think that, in view of the growing Bakkt admit its futures products demand, investors buy BTC, as it fell to a low of $4000, and it is a part of their plan to accumulate more bitcoin.

However, there is no evidence to support this theory, and the importance of the Bakkt futures market is still in doubt. The effect of Bakkt on the encryption operations of the Department of bitcoin currency futures market is an uncertain factor, and the target customer group is the United States market investor demand for the amplitude of the Bakkt is not clear.

In general, even on the Bakkt itself, the delay line is also positive mood. So, now that Bakkt in a significant way to influence the price of BTC the value of assets fell 12% to 15% premature.

The Bakkt team said: “taking into account the interest of the Bakkt and the implementation of all the work required, we will aim at the January 24, 2019 now, to ensure that our participants can do business in first days.”

Fell not so bad

Famous technology analyst and trader Peter Brandt (Peter Brandt) published a table, an overview of the BTC in the past performance of the major revision.

Since the record has dropped to $4000, down less than 80% BTC. Even if the BTC touched $4000, it is only the fifth encryption revision history on the currency market.

BTC is likely to test the $4000 support in the next few weeks, but only when the amount of assets sold with the increase of the total bitcoin trading volume reached 8 to $9 billion when it will be possible to further below $4000.

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