Dennis asks "Do you think the top 5-10 alts will rise because of Bakkt?".
Here's my response!
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Will Bakkt Benefit Altcoins?
6 years ago in #threespeak by louisthomas (76)
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Bitcoin going up will benefit the alts, but it's not certain that Bakkt will cause bictoin to go up. That is considering bakkt will lauch, I still have my doubts.
Bitcoin always seems the first one or among the very first ones to rise from the bottom of a bear market. That makes sense. Institutional money in particular seems likely to want to pour into BTC rather than anything else at first.
Bakkt will add money in this market so the coins under coverage of them will have good pumps in my opinion and i think bitcoin will reduce the dominance % and some altcoins will have positive moments for that moment. Regards
I don't think it's will make a difference
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Something much more major needs to be done to really benefit altcoins than this
I think it will probably benefit more as time goes by. Cheers mike
Blessings and happy weekend :)Hi @louisthomas Maybe yes, because many coins will be much of the wallet of some whales.
Maybe yes because
Some coins will be part of some
Portfolio whales.
- martha75
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I want to believe that Bakkt will benefit the altcoins but in all honesty I have my doubts.
It's definitely yet to be seen and the reason why I think this is so is because it's a crazy market and there maybe some unforseen circumstances. Currently the altcoins are resistantly bearish Bakkt Will definitely make impact but let's not overstate it before it starts out really. Nevertheless I'm hoping it does
In my opinion Bakkt will be a catalyst for an increase in 5 other top coins, especially bitcoin which will increase sharply. Bakkt is managed by people who are experienced and trusted and will attract many investors to invest in the blockchain.
I'm not holding my breath given how long it's taken for bitcoin to get approved. I can only hope that the process is now more defined, making it easier for other coins and exchanges.
I am sure that they will continue to expand as Coinbase has as the opportunity for fees is to much to avoid for business!
Posted using Partiko iOS
Not for sure! it is a great for bitcoin in because it helps bitcoin seek the attention of Institutional and Traditional Investors and also brings in great liquidity into the market. But Traditional investors and institutions don't have an eye for altcoins , even if they do it will help only large cap altcoins like Ethereum XRP andLitecoin nothing more than that
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