ك Bakkt presents Bitcoin futures on a cash basis! : Cryptomagazine

Launch on December 9th

The Intercontinental Exchange (ICE) has announced that its Bakkt term bitcoin platform will introduce a cash payment option for bitcoin trading. The start is scheduled for December 9, 2019. It will be interesting to see if this news will have a direct impact on Bitcoin. We review the latest news.

Comments ICE

ICE, the owner of the New York Stock Exchange (NYSE) has announced the news via a blog entry. As a result, Bitcoin futures settled in cash will be settled in Singapore (ICE Clear Singapore). Lucas Schmeddes, President of ICE Futures, said: “Our new cash-settled futures will provide Asian and global investors with a convenient and cost-effective way to acquire or hedge risks in Bitcoin markets. “Building on the success of our deliverable futures contract, cash settled futures will utilize ICE’s globally accessible and regulated marketplace to provide a secure and compliant environment for Bitcoin trading.”

Bakkt widens the range

Last October, Bakkt announced its intention to launch in the future the first regulated option contract for Bitcoin futures. This should also be available in December. Cryptocurrency work is in full swing at Bakkt.

New hype around Bakkt?

The message to the first
The future of bitcoins has caused a stir and noise in the cryptography industry.
Many experts have testified to the new platform of the future
important innovation status. Mike Strutton, IRG Analyst, commented
to the CIE as follows: “Since future Bitcoins come from Bakkt, this one
backed up physically, which means that Bitcoin has bought and dated
Market taken and for the duration of these contracts in the platform
to be stored. And they do these (contracts) in one day
Transactions and do not take advantage or trading margin. mine
This information is really optimistic for the market,
especially when the (platform) comes out. “In the sequel was
the start of Bakkt has been postponed several times. First on the 12th
December 2018 released as the official launch date. this
However, it was moved to 24 January 2019 at the last minute. As well
this deadline was not respected, it was decided to
do not post a specific start date. July 22
then finally began the long-awaited testing phase of the futures contracts.

Direct impact on Bitcoin?

The information on the Bakkt project has generated a lot of expectations in the cryptospace. However, Bitcoin fell shortly after publication. The direct effects on Bitcoin were hardly felt after publication. One wonders if this will result in cash-settled contracts. To date, the news has had no noticeable impact on the BTC. That happened on Sunday at the $ 7,000 mark and suffered smaller losses. Currently, the price of the BTC is $ 7,104. It is quite possible that Bakkt’s news will be published alongside the Halve and Facebook Pay messages. Successful implementation could, however, have a lasting impact on the price of BTC and provide new access to cryptocurrency.

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