The bitcoin price has soared so far this year but has failed to return to its all-time high set in ... [+]GETTY IMAGES
Bitcoin and cryptocurrency market watchers have been eagerly awaiting next year's bitcoin halving–something that many think could boost the bitcoin price.
The bitcoin price, after a difficult 2018, has somewhat recovered this year. One bitcoin is now worth more than 150% of its January price, making it 0ne of the best performing assets of 2019.
However, real world bitcoin adoption remains subdued and trading volumes have largely stalled. Now, a newly announced consumer app for bitcoin and cryptocurrency purchases from bitcoin futures exchange Bakkt potentially the catalyst for bitcoin's next leap higher.
Bakkt, a New York Stock Exchange-owner backed bitcoin and cryptocurrency venture, announced this week it plans to launch a consumer app for cryptocurrency purchases in 2020.
U.S. coffee chain Starbucks will be its first launch partner, with the company one of the original backers of the crypto project, along with software giant Microsoft and Boston Consulting Group.
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Starbucks is the world's largest coffee chain, boasting more than 30,000 stores.
Users of the Bakkt app will be able to spend bitcoin on Starbucks coffee via the app, however, they won't be making bitcoin payments directly to the company–a process that is still too slow for most consumer transactions.
