RATE Group | Bakkt Launch to Blame for 20 Percent Bitcoin Price Drop: JPMorgan Analysts
63608
post-template-default,single,single-post,postid-63608,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bakkt Launch to Blame for 20 Percent Bitcoin Price Drop: JPMorgan Analysts

29 Sep Bakkt Launch to Blame for 20 Percent Bitcoin Price Drop: JPMorgan Analysts

Posted at 16:55h in Bitcoin News by

[ad_1]

According to Bloomberg, JPMorgan analysts state that the much-awaited launch of Bakkt’s physically-delivered Bitcoin futures is the reason why the BTC price tanked by more than 20 percent this week. 

Morgan Creek Capital CEO Mark Yusko Reacts to Bitcoin Price Dropping Below $8,000:

The writing was on the wall

While hardly anyone denies that the fact that Jeffrey Sprecher-helmed Intercontinental Exchange diving feet-first into Bitcoin is a major milestone for this nascent asset class, there was no consensus within the crypto community about how it would impact the market. 

As reported by U.Today, Anthony Pompliano of Morgan Creek Digital conducted a Twitter poll to gauge the sentiment within the crypto community. 26 percent of the responders believed that the price would go down. As it turned out, the Bitcoin bears hit the nail on the head this time around. 

Notably, the launch of cash-settled Bitcoin futures by CME Group also sent the market into freefall at the end of December…

[ad_2]

Source link

Tags:
, , , , , , , , ,