Bitcoin Price Rises From $4,050 to $4,560 Amid Extreme Volatility Following Bakkt Delay

Over the past 12 hours, the price of Bitcoin, which was dangerously close to breaching the $4,000 support level, surged from $4,050 to $4,560 by more than 12 percent. On Coinbase and major fiat-to-crypto exchanges like Bitstamp and Kraken, Bitcoin dropped to as low as $4,030 for a brief period of time and recovered to $4,200 almost immediately after. Eventually, BTC rebounded to $4,500, showing some resistance in the low $4,000 region.

On November 20, ICE, the parent company of the New York Stock Exchange, released a statement regarding the delay of the Bakkt Bitcoin futures market launch from December 12 to January 24, 2019.

The official document shared by ICE stated that the institution needs more time to handle the onboarding of customers and clearing members before opening the futures market.


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