{"id":112749,"date":"2019-08-29T00:14:18","date_gmt":"2019-08-29T07:14:18","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=112749"},"modified":"2020-03-20T02:45:30","modified_gmt":"2020-03-20T02:45:30","slug":"bakkt-bitcoin-futures-sept-23-catalyst-btc-trend","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bakkt-bitcoin-futures-sept-23-catalyst-btc-trend\/","title":{"rendered":"Bakkt Bitcoin futures launching on Sept. 23 could be the catalyst for BTC\u2019s trend"},"content":{"rendered":"

Bakkt\u2019s Bitcoin<\/a> futures are on schedule<\/a> to launch on Sept. 23, coinciding with a technical pivotal point on BTC\u2019s daily chart.<\/p>\n

Bakkt\u2019s Bitcoin futures<\/h2>\n

Bakkt, a subsidiary of the Intercontinental Exchange (ICE), was recently granted approval<\/a> from the U.S. Commodity Futures Trading Commission (CFTC) for crypto-settled Bitcoin futures. These contracts are meant to allow institutions to gain exposure to Bitcoin while acting as a tool for more sophisticated trading strategies.<\/p>\n

Unlike existing Bitcoin futures contracts from the Chicago Mercantile Exchange (CME), which are only settled in cash, this will be the first physical Bitcoin-settled futures on the market.<\/p>\n

Several analysts, such as @Rythmtrader, believe that this could be the catalyst that takes cryptocurrencies into the mainstream, bringing institutional capital and liquidity into the space.<\/p>\n

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Remember, the hype is bakkt with substance.<\/p>\n

Unlike other futures exchanges, this is settled in bitcoin. Actual bitcoin is paid out, not just the fiat equivalent to the price of bitcoin.<\/p>\n

The result is better price discovery and liquidity for bitcoin and everyone in the space.<\/p>\n

— Rhythm (@Rhythmtrader) August 28, 2019<\/a><\/p><\/blockquote>\n