Bakkt is Finally Here..But Bitcoin Shows No Signs of Growth (Yet)
The highly-anticipated project Bakkt is finally live. Crypto enthusiasts expected market fireworks to launch in the form of a Bitcoin (BTC) price jump but now, we’re all sitting here scratching our heads. Not only did BTC fail to reach it’s high expectations after Bakkt, but the price actually dropped. So what happened and is there any reason to be concerned about your investments? (Hint: no.)
BTC drops after Bakkt launch; here’s why this is a good thing
Did Bakkt cause the crypto market dump approximately worth $10 billion? It may have had a minor effect but in short, no. Bakkt was not the sole reason for this loss. Usually, red markets mean panic and worry but in this case, it’s actually a good sign. Today’s market action is not out of the ordinary. The market naturally moves up and down day in and day out. The fact that BTC did not dramatically react to news like Bakkt shows the market is more mature than ever. Yet, don’t worry. There may be a chance to fill your bag in the coming months.
Market volume for Bakkt futures may be a “slow burn”
An article by NewsBTC yesterday suggested that despite Bakkt’s lackluster debut, Bitcoin volume will still rise over time. We here at YouHodler agree. The fact of the matter is that regulated futures such as this do not take off immediately. It is a slow adoption because not every future broker is ready to clear it yet. Many want to wait and see what happens and further analyze the risk. If BTC can keep up it’s relatively stable behavior as it has thus far in 2019, then we will see more brokers enter the market and the volume of BTC will increase.
More time for crypto investors to prepare
From the point of view of crypto Hodlers and traders, a gradual BTC price increase means more time to strategize and prepare portfolios. YouHodler can help in many ways. For example, if you have lots of altcoins like ETH, XRP, XLM etc, then you can use them as collateral on YouHodler in exchange for cash to buy BTC. That way, you do not sacrifice selling your altcoins but have the chance to add BTC to your portfolio. YouHodler’s industry best LTV percentage ensure you get the most value for your collateral and can buy more BTC as a result.
Another option would be to use YouHodler’s Turbo Loans feature. Starting with a small BTC amount, Turbo Loans uses a chain of loans consisting of 3-5 automatic loans that help users multiply their crypto assets. This is an extremely fast and easy way to obtain more BTC with affordable interest fees.
So now, you have no excuse. We have the tools to help you prepare for BTC’s future growth so visit YouHodler.com today to get started.