Over the past year, many participants in the crypto markets have been looking towards the official launch of the Bakkt as an event which would drive a lot of adoption and trigger many institutions to invest in the crypto markets. In the latest cryptocurrency news, we can see that John McAfee believes Bakkt launch could definitely catalyze the next major Bitcoin bull movement.
Right now, the markets are only a few days away from the launch of this platform. Analysts are closely watching everything to see how the introduction of physically settled futures could impact the most dominant cryptocurrency (Bitcoin) and the aggregated crypto markets in the near term.
While some analysts think that the launch of Bakkt coincides with the apex of the large triangle which BTC is currently trading in, McAfee believes that Bakkt could start the adoption. The outspoken crypto bull took to Twitter, stating the following:
“BAKKT goes live tomorrow. It is an institutionalized exchange so I won’t be using it, but institutions will feel a level of trust that they had not had. It could jump-start Ctypto adoption. But remember – it is the opposite of freedom’s movement.”
BAKKT goes live tomorrow. It is an institutionalized exchange so I won't be using it, but institutions will feel a level of trust that they had not had. It could jump-start Ctypto adoption. But remember – it is the opposite of freedom's movement.
— John McAfee (@officialmcafee) September 20, 2019
McAfee also said that the date of the platform’s launch mixed up – and the Bakkt actually launches on Monday and not tomorrow.
The coming altcoin news sum up a lot of stances from the community. One of them is the viewpoint of Thomas Lee, a prominent cryptocurrency analyst and a notable Bitcoin bull. While John McAfee believes there could be a bull run soon, Lee said that the Bakkt launch will improve the institution trust of the crypto markets.
“I am very positive on @Bakkt and its ability to improve trust with institutions to crypto,” Lee explained.
— Thomas Lee (@fundstrat) September 20, 2019
Assuming that everything goes well and the Bakkt launch proceeds with great success and utilization, it could lead to an influx of fresh capital in the markets. This could also boost the performance of crypto for the second half of 2019.
The best cryptocurrency news sites today report about the falling price of Bitcoin over the past several days. The sideways trading, however, may soon come to an end as McAfee believes – mostly because of the upcoming Bakkt launch.
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