Some people have analyzed that after the launch of the high-profile Bakkt, the start was unfavorable and did not achieve the expected results. It just makes some people disheartened, and people's reaction to the new derivatives of Bitcoin does not show high enthusiasm, but it will be cold. Although the launch of bakkt is an important milestone, the effect is not good and it has not received strong response from the market. The market decline naturally involves the price trend of Bitcoin.
Some insiders also said that the plunge of Bitcoin is actually a harbinger. Recently, the price trend of bitcoin has been triangular, which is an important signal that the technical indicators show that the bitcoin market is changing. According to the analysis of relevant people, from a technical point of view, bitcoin prices reached a high point at the end of June, but it is impossible to predict whether it is a triangle shape of decline or bullish. However, on September 20, the price of Bitcoin continued to fail to break through the upper limit, basically confirming the top shape of the triangle and forming a downward trend. It indicates that bitcoin prices will fall sharply.
Others blame bakkt's unfairness for the sharp drop in Bitcoin. Bakkt's small listing volume is due to the difficulty of participants' threshold and transaction, and banks and futures companies do not have enough knowledge of the process, which is also a reason that affects the market. Of course, the market situation is unpredictable, and the ups and downs are caused by the comprehensive influence of the market and macro factors.