The launch of new Bitcoin options on the world’s largest derivatives market, the Chicago Mercantile Exchange (CME) recently has been attracting huge interest from institutional investors, as per JP Morgan Chase.
A note written by strategists like Nikolaos Panigirtzoglou on 10th January stated that the volumes and open interest from Bakkt’s offering of options had been relatively “small.” They added that the launch of new Bitcoin options might bring in great changes.
As written by the Managing Director at JP Morgan, Nikolaos Panigirtzoglou, the activities with regards to CME futures contract has increased drastically with relatively 69 percent open-interest by the financial year-end. This means that there is an increase in activities.
Bitcoin Eyes Growth as Futures Contracts Launch
The launch of new Bitcoin contracts has a mixed reputation. Now and again, there have been speculations regarding the delay on the price hike, when ICE launched its new futures contract in September. Also, the peak price was around 19,000 dollars. In December 2017 it happened as CME and Cboe Global Markets Inc introduced futures on the world’s biggest cryptocurrency.
Moreover, the market is becoming favorable for Bitcoin price, the largest cryptocurrency by market capitalization, after its after-hours downtrend to the $7,600 level. BTC has topped advantageously above 8,000 dollars with a sign of further price growth. You can make an investment in Bitcoin through Crypto Hopper Software during this downtime. It is an automated trading software that allows you to make a good profit from Bitcoin.
Gradually, Bitcoin’s intrinsic value was going up, yet stays below the market price, later a noteworthy difference in the mid last year as indicated by the report. JP Morgan ascertains the intrinsic value by taking Bitcoin as a commodity and by looking at the marginal cost of production which includes computational power employed and cost of power.
