After two dips below $ 8,000, bitcoin has leveled off and is ready to move on. Causes?
The entire market of top cryptocurrencies is in green.
The most likely reason is Bakkt again. It turns out that the platform is conducting massive negotiations with brands to adapt crypto. Bakkt CEO Kelly Loeffler and Jeff Sprecher, founder and CEO of Intercontinental Exchange (ICE), made a joint statement:
– Bakkt is in talks with consumer brands looking to accept digital assets.
Starbucks plans to install Bakkt software to pay in bitcoins. In addition,
Kelly Loeffler also stated that the institutes are continuing negotiations with Bakkt:
– The funds that trade on our exchanges expressed to us that they don’t want to deal in today’s unregulated markets, and want end-to-end federal oversight, on the level of the NYSE, to feel safe trading in Bitcoin.
Meanwhile, despite the low trading volumes, the launch of Bakkt has already greatly scared fiat financiers. The most far-sighted say that crypto is about to displace credit cards from retail. It’s all about commissions. According to CardFellow, on average retailers pay a commission of 1.95-2% for Visa, Mastercard and Discover transactions. And for online, the percentage increases to 2.3-2.5% (CNP – Card not present transaction).
Bakkt executives modestly declare that they simply “want to make BTC a worthy investment alternative.” It looks like they are doing well.