Crypto Weekly (Sept. 11th, 2019)
Weekly recap...
- Ahead of the Bakkt launch on 9/23, the Fed Chair Powell piled on to the negative sentiment currently permeating crypto-markets.
- Network data monitoring tools have improved significantly over the past year — a big plus for data transparency in the space.
- Our model suggests total breakeven BTC mining cost = $8500; cash breakeven cost = $7300.
Center Story
1. Fed's critcism of crypto overshadows first stage of Bakkt product launch
On the same day Bakkt began accepting deposits and withdrawals (last Friday, September 6), Jay Powell was in Zurich where he expressed skepticism on behalf of the Fed towards the viability of and demand for cryptocurrencies.
Recently it seems like good news helps less than bad news hurts. Still, the Bakkt launch at the end of this month is a very good development in the markets for improving price discovery.
What else to know...
Bakkt's futures product launches September 23. Trading hours: 8:00 PM - 6:00 PM (next day) EDT; daily settlement window between 4:58 PM and 5:00 PM.The contract size = 1 BTC with a minimum price fluctuation of $2.50 per bitcoin ($2.50 per contract).Block trades may be executed at $0.01 per Bitcoin ($0.01 per contrac...Reports you may have missed
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