Bit-comment: Bakkt is not a “breakthrough of the year”?

Bitcoin declined below the $10K threshold, pushing most of the altcoins south and currently trading at $9,800. Crypto market isn’t into a free fall yet, but there are prerequisites for that. Investors laid down high expectations regarding the delivery futures. Nevertheless, the launch of Bakkt has not to become a “breakthrough of the year”, yet. According to the latest data, the trading volume on the platform grew up to 49 BTC ($480K at the current rate).

On Tuesday morning, Bitcoin loses 2% and changes hands around $9,800. It should be noted that on the downturn under $9,700, the coin was redeemed at the increased trading volumes. This may turn out to be a signal that large players still buy crypto coins at a discount. As for the altcoins, the situation is more complicated here, and the limit of confidence in these assets was lower, judging by the size of the decline in the top alternative cryptocurrencies.

The FxPro Analyst Team