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Crypto Community Reacts to Bakkt But Not all Are Bullish

The news that regulatory approval has finally been granted to Bakkt has generally been perceived as bullish for the industry. However, not all in the crypto community are convinced that it is the best thing for Bitcoin and its brethren.
How Bullish Is Bakkt?
As reported yesterday by NewsBTC , the Intercontinental Exchange’s (ICE) new crypto trading platform has finally been given the go-ahead. A September 23 launch date has been set following regulatory approval by the Commodity Futures Trading Commission (CFTC) and the New York State Department of Financial Services. It may well open the door to institutional investors and could be a giant step forward for crypto industry legitimization in the US.
The concept of physically delivered bitcoin futures backed by the New York Stock Exchange may be the catalyst that takes BTC to mainstream consumer markets. Not all are convinced though as comments on crypto twitter today reveal. Crypto analyst going by the handle ‘CryptoChartsJoe’ has predicted a run up before the September launch then a big dump when it goes live:
“Regarding the #Bakkt news, expect the Crypto market to catch a bid, and run up hard. Then on the day that #Bakkt actually goes live, there’ll be a market selloff!! Again, Wall Street is best for breaking hearts, and stealing souls,”

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