Bitcoin futures contracts have made somewhat of an impact on the world’s leading cryptocurrency’s price. That in itself is always interesting to keep an eye on, although it seems the mainstream couldn’t care much less about these trading vehicles. Bakkt is scheduled to “launch’ its own Bitcoin futures in the coming weeks, albeit it is important to acknowledge what is going exactly. 

Contrary to what some people may assume, Bakkt will not roll out its actual Bitcoin futures to the masses in just over a week from today. Instead, the company will begin testing this product and the underlying infrastructure to see how things will evolve. This phase is referred to as “user acceptance testing”, which means not everyone will be able to access this testing environment. It is a “glorified” beta test of the products, and should be treated as such. 

Although the beta testing of this Bitcoin futures trading vehicle could spark a massive BTC bull run, it seems incredibly unlikely that will be the case. The general consensus among traders and enthusiasts is how the beta launch – as well as the full launch, whenever it happens – is already factored into the current Bitcoin price. That is something to keep in mind at all times, primarily because the value of BTC has fluctuated quite a bit in recent weeks. Rest assured it has nothing to do with Bakkt or its upcoming user acceptance testing. 

There is a lot of conflicting information in that regard, albeit it is safe to say no one knows for sure at this time. More specifically, Bakkt initially expected to launch its Bitcoin futures in late 2018, yet that deadline was pushed back significantly. After all, this is why the user acceptance testing phase will only begin in July of 2019, which seemingly indicates the actual product launch is still weeks, if not months, away. 

Even if the futures products launches in full, it remains to be seen who will be able to access these vehicles in the years to come. As regulators are closing down on any company providing exposure to cryptocurrencies, digital currencies, and tokenized assets, it will be interesting to see how Bakkt handles this particular aspect. By the time its futures launch in full, the US may have become an unsuitable area for Bitcoin products in general. based on how regulators are treating cryptocurrency right now, such a development seems more and more plausible every day. 

Based on all of the Bitcoin futures products being released in the past two years, it seems very few people actively care about these products at this stage. While that negative attitude wasn’t entirely surprising during the crypto winter of 2018 and early 2019, it seems very little has changed ever since BTC surpassed $10,000 again in Q2 of 2019. 

As such, one has to wonder what the response to Bakkt’s products will be. As the company will also support the ICE Futures US launch of margined futures for Bitcoin, there is a chance things could get a lot more interesting once everything has gone live accordingly. At the same time, one also has to keep in mind these products might not make any meaningful impact either. An interesting future lies ahead either way, albeit it might not necessarily benefit Bakkt in the long run. 

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.

Image(s): Shutterstock.com

The post Bakkt’s Futures Testing Will not Impact the Bitcoin Price appeared first on NullTX.

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