How Bakkt Could Lead Bitcoin To Recovery
A well-known crypto trader, technical analyst and all-around figure the crypto space, Alex Kruger has said that Bakkt will lead the recovery of Bitcoin throughout the end of this year to the start of the next. Kruger went onto say that denial of the Bitcoin exchange-traded fund filling of SolidX, VanEck and Chicago Board Options Exchange will lead to the crash of Bitcoin, possibly leading back down to the $6,000 mark and maybe even the $4,000 level.
Kruger said: “Possible outlook for BTC: First, bull run on BAAKT & renewed ETF approval narrative early 2019. Second, ETF denied Feb/27, massive crash, goodbye 6k, hello 4k, cleanse all weak hands Lastly, halvening 2020 narrative and re-adjustments lead to [a] sustained bull run for the rest of 2019 & 2020.” The trading platform, Bakkt has strict regulations on it by its developer’s ICE, the parent company of the New York Stock Exchange and is currently in the process of established an ecosystem that enables both retail traders and institutional investors to invest in the crypto market with sufficient investor protection and through products which are in touch with the regulations in the United States.