A Critical Analysis of Volatility Surprise in Bitcoin Cryptocurrency and Other Financial Assets

The purpose of this paper is to investigate the viability as compared with other financial assets of cryptocurrencies as a currency or as an asset investment. This paper also aims to see which macro variable relates more to the price of cryptocurrencies, especially Bitcoin. Since the whole concept of cryptocurrencies is quite novel, an attempt has been made to briefly explain the underlying blockchain technology that forms the bedrock of cryptocurrencies. In this study, we use secondary data, i.e., the price history of Bitcoin from September 2014 to September 2021 for the last seven years, captured from trading exchanges. We predicted monthly returns of Bitcoin with that of Standard & Poor’s 500 Index (S&P 500), gold, and Treasury Bonds. Our findings show that Bitcoin has very high volatility compared to S&P 500, Gold and Treasury Bonds. Also, our findings show that there is a positive correlation between Bitcoin’s price volatility and the other three financial assets before and during COVID-19. Hence, Bitcoin is acting more as a speculative asset rather than a steady store of value. This can be drawn from the comparison with the debt market i.e., a Treasury Bond that invests in long-dated (30 years) US treasuries with which Bitcoin shows no relationship. The findings of this study could help with understanding the future of Bitcoin. This has important implications for Bitcoin investors. The current study contributes to the extant literature by providing empirical evidence on long-term social sustainability vis-à-vis supply chain traceability.

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Pengaruh Penggunaan Proton Pump Inhibitor Jangka Panjang terhadap Sindrom Frailty pada Pasien Usia Lanjut

Jurnal Penyakit Dalam Indonesia ◽

10.7454/jpdi.v3i3.115 ◽

2016 ◽

Vol 3 (3) ◽

pp. 143

Author(s):

Stephanie Dewi ◽

Purwita W Laksmi ◽

Ari Fahrial Syam ◽

Esthika Dewiasty ◽

Euphemia Seto

Keyword(s):

Proton Pump Inhibitor ◽

Proton Pump ◽

Secondary Data ◽

Health Condition ◽

Cognitive Status ◽

Primary Data ◽

Frailty Syndrome ◽

Frailty Status ◽

History Of

Pendahuluan. Sindrom frailty berkaitan dengan angka morbiditas dan kematian yang lebih tinggi, sehingga dipakai sebagai prediktor kesehatan pada orang usia lanjut (usila). Polifarmasi sebagai salah satu faktor risiko sindrom frailty dapat berkaitan dengan obat Proton Pump Inhibitor (PPI) yang sering diberikan pada usila atas indikasi adanya keluhan gangguan saluran cerna bagian atas. Sampai saat ini belum ada penelitian yang mempelajari hubungan PPI jangka panjang dan sindrom frailty pada usila.Metode. Studi kasus kontrol pada pasien usila di Rumah Sakit dr. Cipto Mangunkusumo (RSCM), Jakarta. Kelompok kasus adalah usila terdiagnosis Frailty menurut FI-40 item dan kontrol adalah usila yang tidak frail berdasarkan instrumen yang sama. Data yang digunakan pada penelitian ini berasal dari data sekunder status frailty berdasarkan penelitian sebelumnya dan data rekam medis poliklinik Geriatri dan poliklinik diabetes RSCM.Hasil. Didapatkan 225 subjek (75 kasus: 150 kontrol), 59,6% berjenis kelamin perempuan (rerata usia 72,14 tahun; simpang baku ± 6,4 tathun) dan 47,1% berpendidikan tinggi. Subjek yang berpendidikan rendah, berstatus cerai mati, berstatus nutrisi lebih buruk, tidak mandiri, memerlukan caregiver, hidup tidak berkecukupan dan kondisi kesehatan yang lebih buruk lebih banyak didapatkan pada kelompok frail dibandingkan kelompok yang tidak frail. Proporsi pengguna PPI Jangka Panjang sebesar 40,9%. Penggunaan PPI jangka panjang meningkatkan risiko sindrom frailty (Crude OR 2,15; IK 95% 1,22- 3,78; p<0,007) dengan adjusted OR 1,83 (IK 1,0-3,36) terhadap variabel nutrisi dan merokok.Simpulan. Penggunaan PPI jangka panjang (≥ 6 bulan) secara independen meningkatkan salah satu risiko sindrom frailty pada usila.Kata Kunci: frailty, geriatri, proton pump inhibitor jangka panjang, usia lanjutThe Effect of Long-Term Proton Pump Inhibitor Use on Frailty Syndrome in Elderly PatientsIntroduction. Frailty syndrome, the newest elderly health predictor, associated with higher morbidity and mortality. PPI are often used in elderly due to presence of upper gastrointestinal complaints, and relates with polypharmacy as one of the risk factor for frailty syndrome. There is no study of the relationship between long term PPI use and frailty syndrome in elderly.Methods. A case control study included subjects 60 years and above with good cognitive status. All subjects with history of hypersensitivity of PPI were excluded. Elderly who were frail based on FI-40 item were defined as cases, while individuals that were not frail were classified as control. Primary data (included frailty status) was collected on March-June 2013 by Seto E and Sumantri S, et al. Secondary data used in this current study were gathered from the primary data of previous research and from the medical record taken from geriatric and diabetic outpatient clinics Cipto Mangunkusumo Hospital.Results. There were 225 subjects collected (75 cases: 150 controls), 59,6% were female (mean age 72,14 years old, SD ± 6,4 years) and 47,1% with higher education. Lower education, divorced, poor nutrition, dependent, needed caregiver, economically insufficient, more comorbidity and poor health condition were seen in frail group. The proportion of long term PPI use were 40,9%. Long term PPI medication increased the risk of frailty syndrome (Crude OR 2,154; CI 95% 1,225-3,778; p<0,007) with adjusted OR 1,83 (CI 95% 1,02-3,37) after adjusting with nutrition and smoking variables.Conclusions. Long term use of PPI significantly increase the risk of frailty syndrome compared to the non-users.

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Improving Financial Performance Using Capital Budgeting Method Towards Cleaner Eyewear Product: A Case Study of Nasho

Malaysian Journal of Social Sciences and Humanities (MJSSH) ◽

10.47405/mjssh.v5i6.433 ◽

2020 ◽

Vol 5 (6) ◽

pp. 128-135

Author(s):

Mia Juliani ◽

Raden Aswin Rahadi

Keyword(s):

Financial Performance ◽

Cash Flow ◽

Net Present Value ◽

Secondary Data ◽

Capital Budgeting ◽

Primary Data ◽

Financial History ◽

History Of ◽

The Cost

The purpose of this study was to know the factor that can be improved in the financial performance of Nasho. Nasho is a brand that focuses on offering products for eyeglass and helmet application that can be water, dew and dust repellent by utilizing the application of nanotechnology in the scope market of Bandung. However, to adapt the technology for Nasho is currently hampered by the limited capital to develop the technology itself. The company needs to manage the capital and minimize the cost to optimize the finance. The company needs to control the cost and expenses to avoid the high number of costs and expenses in terms of the development business stage. The research will use a qualitative approach by conducting interviews to Mr. Reza optics that will cooperate with Nasho to sell the product and use secondary data information from literature review, journal, books and primary data from financial history of Nasho and survey from the consumer of Nasho namely College student, Medical staff and Motorcycle riders and the components that are relevant to the conceptual framework. Survey used to get the consumer product and buying tendency information from Nasho’s consumer to validate the assumption of brand, price and buying intencity. Interview was conducted to get the suitable number of sales that are being used for cash flow forecasting scenario. The findings of this research is Nasho had low financial performance in the first two years of the business. After the evaluation, this can be improved by making a financial planning mix for short term and long term using the capital budgeting method in the form of three optimal scenarios of cash flow, Net Present Value (NPV), IRR and payback period that can be used as an optimal plan to run this business for the next five years.

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Property Registration and Ownership Transfer using Blockchain

International Journal of Innovative Technology and Exploring Engineering - Special Issue ◽

10.35940/ijitee.e3133.049620 ◽

2020 ◽

Vol 9 (6) ◽

pp. 900-903

Keyword(s):

Real Estate ◽

Data Security ◽

Complete Information ◽

Comprehensive System ◽

Sensitive Information ◽

Financial Assets ◽

Blockchain Technology ◽

Ownership Transfer ◽

History Of ◽

Property Registration

The high-value property like Land, Home, related to real estate it is essential to have exact records that recognize the present proprietor and give evidence that he is surely the proprietor. Such a record can be utilized to protect the owner’s privileges, prevent sale fraud and to make sure that the ownership is correctly transferred to a new owner after sale. Thus it is essential to maintain correct and complete information and prevent illegal or unjustified, fraudulent changes. Many efforts have been taken already for providing data security to sensitive information. Blockchain is the technology that gives high security to the data. Blockchain technology can store an immutable history of transactional records, so no one can ever doubt the authenticity; records are permanently linked to the system so no one can ever interfere with a record of their own. This paper gives a comprehensive system on blockchain technology as it can not only be used in financial assets but anything which has some value.

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Risk Premium Information from Treasury-Bill Yields

Journal of Financial and Quantitative Analysis ◽

10.1017/s0022109017000813 ◽

2018 ◽

Vol 53 (1) ◽

pp. 437-454 ◽

Cited By ~ 1

Author(s):

Jaehoon Lee

Keyword(s):

Risk Premium ◽

Bond Yields ◽

Short Term ◽

Treasury Bonds ◽

Yield Curves ◽

Treasury Bill ◽

Risk Premiums ◽

Unique Information ◽

Treasury Bond

I find that short-maturity Treasury-bill yields have unique information about risk premiums that is not spanned by long-maturity Treasury-bond yields. I estimate 2 components of risk premiums: long term and short term. The long-term component steepens the slope of yield curves and has a forecastability horizon of longer than 1 year. In contrast, the short-term component affects Treasury-bill yields but is almost invisible from Treasury bonds, has a forecastability horizon of less than 1 quarter, and is related to bond liquidity premiums.

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INVESTMENT OPPORTUNITIES OF CRYPTOCURRENCY (ON THE EXAMPLE OF BITCOIN)

Bulletin of Udmurt University. Series Economics and Law ◽

10.35634/2412-9593-2021-31-4-583-589 ◽

2021 ◽

Vol 31 (4) ◽

pp. 583-589

Author(s):

E.I. Kozlova ◽

D.A. Bessonova

Keyword(s):

Financial Institutions ◽

Financial Assets ◽

Technological Changes ◽

Dialectical Approach ◽

Blockchain Technology ◽

Investment Opportunities ◽

Current Sample ◽

Digital Assets

The article analyzes the changes taking place in the investment market due to the emergence of innovative blockchain technology and cryptocurrencies, which are increasingly used as alternative investments in the management of a securities portfolio, along with traditional types of financial assets, such as money, bonds and shares. The methodological basis of the study is a dialectical approach that provides an understanding of the interdependence of technological changes and the rethinking of the role of fractional, decentralized, fluid assets with lower settlement risk, which are digital assets, in comparison with the traditional payment system in fiat currencies. The available current sample period of the cryptocurrency Index (CRIX) is too small to fully explore the investment opportunities of cryptocurrencies. In addition, the evaluation of cryptocurrencies is very different from the evaluation of traditional investment tools. There is also no clarity on the development of blockchain technology in the long term. At the same time, even today, the success of several cryptocurrencies (in particular, bitcoin) exerts competitive pressure on transaction methods from existing financial institutions [1], which determines the need for forecasting and analyzing price movements in the cryptocurrency markets. The article offers a sequence of actions for evaluating the profitability of investments on the example of bitcoin.

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Volatility Analysis on Producer Price of Red Pepper and Cayenne Pepper in West Java Province Indonesia

Agro Ekonomi ◽

10.22146/jae.25939 ◽

2018 ◽

Vol 28 (2) ◽

pp. 157

Author(s):

Candarisma Dhanes Noor Viana ◽

Slamet Hartono ◽

Lestari Rahayu Waluyati

Keyword(s):

Price Volatility ◽

Secondary Data ◽

Red Pepper ◽

West Java ◽

Producer Price ◽

High Volatility ◽

Volatility Analysis ◽

Model Determination

This study aims to determine the price volatility in producer of red pepper and cayenne pepper in West Java Province. The data used in this research was secondary data focusing on monthly price statistics of red pepper and cayenne pepper producer in West Java Province from 2008 to 2015. The method used in this research was ARCH/GARCH method with best model determination. Based on the research, it was found that the best model for the price of red pepper in producer was GARCH (1,1) with the volatility value of 0,96. It means that volatility of price of red pepper in producer level was influenced by the increase and fluctuations on producer price of red pepper one month before. The best model for the price of the cayenne pepper producer was ARCH (1) with the volatility value of 0,52. It means that price volatility of cayenne pepper in producer level was also influenced by fluctuations producer price of cayenne pepper one month before. The value of volatility price of red pepper in West Java Province is closed to one, so it can be categorized of high volatility. Meanwhile, the price on the producer of cayenne pepper in West Java Province can be categorized of low volatility.

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Atypical Femoral Fracture in McCune-Albright Syndrome

Journal of Research in Orthopedic Science ◽

10.32598/jrosj.7.3.711.1 ◽

2020 ◽

Vol 7 (3) ◽

pp. 147-152

Author(s):

Salman Ghaffari ◽

◽

Mehran Razavipour ◽

Parastoo Mohammad Amini ◽

◽

...

Keyword(s):

Femoral Fracture ◽

Dynamic Compression ◽

Plate Fixation ◽

Medullary Canal ◽

Mccune Albright Syndrome ◽

Café Au Lait Spots ◽

History Of ◽

Albright Syndrome ◽

Mccune Albright

McCune-Albright Syndrome (MAS) is characterized by endocrinopathies, café-au-lait spots, and fibrous dysplasia. Bisphosphonates are the most prescribed treatment for reducing the pain but their long-term use has been associated with atypical fractures of cortical bones like femur in patients. We present a 23-year-old girl diagnosed with MAS. She had an atypical mid-shaft left femoral fracture that happened during simple walking. She also had a history of long-term use of alendronate. Because of the narrow medullary canal, we used 14 holes hybrid locking plate for the lateral aspect of the thigh to fix the fracture and 5 holes dynamic compression plate (instead of the intramedullary nail) in the anterior surface to double fix it, reducing the probability of device failure. With double plate fixation and discontinuation of alendronate, the complete union was achieved five months after surgery

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European Integration

10.3366/edinburgh/9781474455893.001.0001 ◽

2020 ◽

Author(s):

Johann P. Arnason

Keyword(s):

European Integration ◽

Eastern European ◽

The European Union ◽

Historical Processes ◽

History Of ◽

External Conditions ◽

Eastern European Countries ◽

Totalitarian Regimes ◽

The Eu

Different understandings of European integration, its background and present problems are represented in this book, but they share an emphasis on historical processes, geopolitical dynamics and regional diversity. The introduction surveys approaches to the question of European continuities and discontinuities, before going on to an overview of chapters. The following three contributions deal with long-term perspectives, including the question of Europe as a civilisational entity, the civilisational crisis of the twentieth century, marked by wars and totalitarian regimes, and a comparison of the European Union with the Habsburg Empire, with particular emphasis on similar crisis symptoms. The next three chapters discuss various aspects and contexts of the present crisis. Reflections on the Brexit controversy throw light on a longer history of intra-Union rivalry, enduring disputes and changing external conditions. An analysis of efforts to strengthen the EU’s legal and constitutional framework, and of resistances to them, highlights the unfinished agenda of integration. A closer look at the much-disputed Islamic presence in Europe suggests that an interdependent radicalization of Islamism and the European extreme right is a major factor in current political developments. Three concluding chapters adopt specific regional perspectives. Central and Eastern European countries, especially Poland, are following a path that leads to conflicts with dominant orientations of the EU, but this also raises questions about Europe’s future. The record of Scandinavian policies in relation to Europe exemplifies more general problems faced by peripheral regions. Finally, growing dissonances and divergences within the EU may strengthen the case for Eurasian perspectives.

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