On Thursday, November 21, the Intercontinental Exchange, Inc (ICE), revealed that Bakkt is prepping to launch Bitcoin to USD settled Futures on December 9.

As you may know, Bakkt was big for being the first platform to offer futures settled in actual Bitcoin, which, to many, brought some sort of legitimacy to the cryptocurrencies, blockchain, and more. However, offering Bitcoin to USD settled Futures, to some, represents them going back on that notion.

Source link here

I don't know what to say guys, but is this going to impact Bitcoin? Or not at all? Being the first-ever to offer Bitcoin futures trading, it doesn't guarantee much that the market would really make an impact. Like we expected in the first place that Bakkt could make Bitcoin's price spike, it didn't happen. It goes the other way around from $11k+ to below $10k before slowly climbing back up.

But that was back then.....

Right now, there is a possibility that the support of $7,400 can be broken due to the news about Binance's office getting raided by Shanghai authorities. Although Bakkt could bring legitimacy to blockchain, Bitcoin and other cryptocurrencies, I honestly believe it won't make such an impact in the crypto market right now. But maybe in the long run, it could be possible but no guarantees.