"This unusually strong activity over the past few days likely reflects the high anticipation among market participants of the option contract".
Going by the report, the issuance of Bitcoin contracts has been unstable in terms of performance considering the past record. When ICE debuted its physically settled futures contracts, Bakkt in September the prices fell that time too.
On Tuesday (January 14), which coincides with "New Year's Day" (better known as "Old New Year") according to the Russian Orthodox Church (which uses the Julian calendar), Bitcoin celebrated by surging 5.5% to $8,551, which is the highest level it has been since 14 November 2019.
The below chart - which shows what trends in an asset's volume, open interest, and price means for said asset's future trajectory - indicates that the most optimistic scenario for any market is if the asset's price, volume, and open interest for its futures market rise in tandem, suggesting "strength", "bullish" price action, and an overall trend of prices rising.
JP Morgan calculated the inherent value of Bitcoin by valuing it as a commodity and looking at the marginal cost of production, including the computational mining power that it takes and the electrical energy it consumes.
"The market price has declined by almost 40 per cent from its peak while the intrinsic value has risen by around 10 per cent", Panigirtzoglou wrote. Nevertheless, the leading Bitcoin futures platform did manage to deliver the product on the said date, January 13, 2020. We hope that we have succeeded by giving you the full details and information.
Raj Kapoor's daughter Ritu Nanda passes away at 71
According to Pinkvilla , Nanda was the chairwoman and chief executive officer of Ritu Nanda Insurance Services (RNIS). She wrote, " My dearest, may your soul rest in peace ", as she shared a photo of herself with Ritu Nanda.
Ariana Grande to perform at Grammy Awards 2020
Last year, the 26-year-old star turned to social media to express her frustrations with the 2019 Grammy Awards . Although she did not attend the ceremony, Ariana ended up winning her first Grammy , for her 2018 LP Sweetener .