Bakkt is still trying to make its impact on the futures market. The uphill battle has proven to be a lot more difficult than anticipated.
Even so, it appears the company’s Bitcoin futures are attracting some attention, at least.
Bakkt Continues to Make Headlines
Earlier this week, the firm noted a healthy increase in overall trading volume.
So much even that Bakkt set a new all-time high record of 2.735 contracts being traded in a 24-hour period.
This is a strong increase compared to what can only be described as a lackluster launch in September 2019.
Bakkt sets new all-time high in Bitcoin trading volume in a day 🚀🚀🚀
Institutional investors are buying the dip! pic.twitter.com/p8EF8kLKDU
— Mia Tam (@_blockandchain_) November 22, 2019
It appears the recent Bitcoin price dip has piqued the interest of many speculators and investors looking to make a quick buck.
With Bitcoin recently losing roughly $1,000 in value for no reason, there is a chance the market will rebound significantly.
In the past few hours, some signs of recovery have become apparent, as Bitcoin hit $7,300 again.
Now that Bakkt sees an increase in volume, many expect the Bitcoin price volatility to intensify even further.
It is, in the eyes of some, more than apparent that these futures contracts make it easier for traders to manipulate the value per BTC.
This raises a lot of questions as to where the value of Bitcoin might be headed in the final stretch of 2019.
There is a very big chance this latest dip will not be the bottom for the world’s leading cryptocurrency.
Regardless of how the market evolves, Bakkt will stick around for quite some time to come.
Only time will tell if these investment vehicles are beneficial or troublesome for the cryptocurrency industry.