Bakkt will go live with its physical BTC futures offerings on Monday, September 23. But, it seems bitcoin price is not quite in the mood to galvanize in action and has been sulking during the weekend.
Bakkt Launch & CME Futures Launch ‘Are Different’
Noted crypto trader, Crypto Michaël took to Twitter today to ‘clear the air’ about bitcoin futures launches. There is ‘no similarity’ between CME futures launched in December 2017 and Bakkt which is scheduled to roll out on Monday, he said in a tweet.
People compare the Bakkt launch with the launch of the CME futures in December 2017.
While they are pretty different & also launched in a different part of a marketcycle.
Don’t always try to find a reason for something that might happen -predicting. $BTC
— Crypto Michaël (@CryptoMichNL) September 21, 2019
Both offerings are different and were launched at different points in the market cycle, he opined.
Now moving to the crux of the story.
Bitcoin Price Heading For Sub $10,000 Zone
Bitcoin is kind of still reeling from the massive drop that took prices to the $9600 level. That being the lowest value per coin in almost three weeks, BTC still has remained range-bound(for three months).
Today in his latest update, analyst and bitcoin bull Josh Rager anticipated the aforementioned move to happen again in the near future.
On the day chart, based on price levels looks like Bitcoin could be heading back down to $9600 to $9700
Breaking below support and the high volume node area which has also acted as support
Keep an eye on here as buyers could step in on the short term pic.twitter.com/OG9Z36dRX3
— Josh Rager 📈 (@Josh_Rager) September 21,