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RE: BTC - Bakkt volumes smash previous all time highs!

in #bitcoin5 years ago

More institutions are moving into crypto, overall good news for the market. It's great to see Bakkt finally catching onto some real action, but it's exciting to wait for Bakkt's launch into Singapore, and what effects that'll have.

My concern for crypto prices are still on China, as we've no idea the extent of the recent crackdowns. Also, with institutions swallowing up more crypto for themselves, and the prospect of potential miner capitulation, how would this effect market illiquidity @jrcornel?

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It could be a problem, though not something I am currently worrying about. When markets are illiquid, yes that prevents some from participating, but it also helps prices go to places they probably shouldn't have gone, including to the upside. A nice irrational pump is always welcome in my book. :)

I'm not sure what to make of the China news. There isn't much reported volume being done on the exchanges I have seen from there, at least not like there used to be, though it is also unclear how much OTC volume they are responsible for... or perhaps some of the volume coming out of China being done on other exchanges... Overall, it would be nice if they would just embrace bitcoin and crypto again.

China is the primary concern for the time being concerning crypto prices. They're already starting some crackdowns on crypto exchanges, with some being shut down. For now, it appears as though the victims are smaller/unknown crypto exchanges.