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It seems like bitcoin markets have been tanking recently. Tomorrow is the big day where BAKKT finally launches. You know that system/program whatever you want to call it that is suppose to send Bitcoin into all new highs.
The market however seems to not think so as bitcoin was fallen under 10k and continues to bounce around at this level.
Perhaps it is just waiting to see how BAKKT performs tomorrow and then buy into the news?
The funny thing with crypto is it really comes down to two factors that moves its price.
One being whales who buy and sell massive amounts. This is when you see the price fall $500 or more withing 5 minutes.
The second being news. News honestly plays the biggest factor on bitcoin which is crazy. If the news is positive and hyped up buying will continue and prices will climb.
However the general feeling on Bakkt as that it will turn out to be a big flop. It's curious to me to try and find the number of how much bitcoin is currently held in BAKKT warehouses from early this September to gear up for the launch.
Overall though the feeling is Bakkt wont really produce anything. Honestly this might be the case as other systems like it have already launched and had rather poor support.
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You should know the old saying buy the rumor sell the news. Regardless of how Bakkt performs tomorrow many whales will take 2.5-3x happily today.