Bitcoin Forum

JPMorgan Buys the Dip After CEO Trashes Bitcoin

Days after JPMorgan Chase & Co. CEO Jamie Dimon labeled Bitcoin a “fraud” and threatened to fire any employees caught trading cryptocurrency, it has emerged JPMorgan Securities made a number of trades on the Swedish stock exchange. Someone at the company bought and sold an instrument called Bitcoin XBT that tracks the bitcoin price.
Source:
https://www.bitsonline.com/jpmorgan-buys-dip/

That's the 3rd post I have seen today about JPMorgan supposedly buying Bitcoin. But you missed the part of the same article you linked where it says:
"Maybe JPMorgan Bought Bitcoin Tracker for Clients", which is a possibility;

"That's their brokerage. Their clients bought the dip."
https://twitter.com/prestonjbyrne/status/908869503739678720

What did he do next? Probably went home to spank his daughter for trading BTC ;) Next he went to the kitchen, grabbed a beer. No guys like that don't drink peasant drinks, sophistication is a word here. He grabbed a bottle of 30 year old scotch and went to his man cave to watch bitcoin charts on his 70' screen. It was a fine time to do some trading with real money.  :)

maybe for some insider trading? because if they operate as intermediary service it's normal some they want to keep some info confidentials.

It could be for one its clients. But i don't understand why he said that Bitcoin is a fraud and they are investing on blockchain technologies.

maybe just for create some panic in bit coiners  that joined after this summer. They sell easily, you can buy with a sure profit.
for sure if a big company issue some statement like this they can influence the opinion of a lot of people.

He will do whatever is more profitable, as expected. No one will get fired over it and may actually get promoted later on. I believe this is only a ploy to further depress the price and give an opportunity to some of their "partners and clients" to invest at a lower price point.

If people are interested in this type of thing, they might lookup George Bush's connection to haliburton and its profits from the iraq war. Exxon's record profits from war in the middle east and how exxon uses lobbyist funding to influence politicians towards pro war stances. The clinton foundation's profits from US taxpayers and the disaster in haiti. If I remember right, the united states federal reserve may have profited as much as $40 billion from the TARP (troubled asset relief program) AKA bank bailout bill. There were also banks or investment firms who profited from the economic collapse of 2008. September 11th was a few days ago. There's a conspiracy theory that says many inside traders who knew the 9/11/2001 attacks would take place shorted airline stocks to profit from the attacks. Although I can't comment on whether that's true or not. I honestly don't know how accurate it is.

People profiting from a decline in bitcoin's price could be a more common thing that many realize. Insider trading and using the news media to influence prices has been ongoing for awhile now.

Hmm, I will admit I haven't read the articles on this, but I've been
reading comments about this situation here and I had not read that JPM
didn't want its employees buying/selling crypto.  That's interesting.

JP Morgan used to be a firm with integrity, and now their reputation has
been severely tarnished ever since the LTCM scandal and housing
meltdown.  I honestly don't care what their opinion is about bitcoin.
They're not the be-all, end-all opinion on it. And I think Jamie Dimon
has worn out his welcome at JPM.  Time for him to go.

This is not the first time something like this has happened if you see in stock market also he has told some shares are not trusted and price is going to fall because of his name everyone blindly follows him and sells at profit or even loss finally he buys the dip he did the same for bitcoin the only thing was the price wasn't affected by his statements

after he said that he himself bought a lot of bitcoin? whether this is natural. I thought maybe he just wanted to get the cheapest bitcoin price as cheaply as possible

He is told the people about bitcoin for being fraud and you already saw that after the dumping in bitcoin there is a huge bought amounts of bitcoin in the market and that was probably JP Morgan who is just trying to get some cheap bitcoins so he can hop in and enjoy the benefits of having bitcoin.

That's exactly what he wants, and you have to know that JP Morgan is far from having clean hands when it comes to market manipulation. They rig the silver market (although price-points should the market fail to be manipulated are greatly exaggerated) and likely rig the gold market, but they will definitely maintain whatever advantages they can when it comes to market manipulation because there is a ton of money to be made off of the scheme.

So his employees are buying Bitcoin for clients. I would like to see Jamie Dimon firing his employees and abandoning his clients because according to him they all are stupid enough to invest in fraud currency. Why would he work with them? Everyone in his company enjoyed this dip after he manipulated the market and ruined many small investors.

Insider story, verge of breakdown of next financial system through J. P Morgan's losses mounted due to Insider Trading Team of Hedging. It's very much doubt Monday morning that JP Morgan will open for work and go for filling Bankruptcy!! This is pretty known already to most tops in WALL maybe !!! So US is fail to act on NK's threat..diversion was hurricane which was man made due to reservoir more than storm effect!!  Lets wait until Monday Morning!! BLACK MONDAY!!

He will do whatever in order to make profit whatever he said just for the interest of his own

You wanted to know what he do next, so now, he Knocks bitcoin again in an interview with CNBC he said,

                "Right now these crypto things are kind of a novelty. People think they're kind of neat. But the bigger they get, the more
                                                       governments are going to close them down,"
He just wants to crash the price of bitcoin more and more, so that a state of panic is created among people and people who are thinking of investing in bitcoin change their mind, so in the end he can once again invest in Bitcoins at low price.

What a very funny scenario. ;D The guy has been in the Industry for so long, he is good with manipulations and he knows how much effect FUDs can cause and he thought, wait, how can we buy at a good price now that it seems this stuff doesn't look like it will come down? Then one morning, he woke up and said, oh good! let us make the whole china stuff going on to create some more panic in the minds of the gullible ones so they can at least dash us some free cash. And voila! There it is!! I hope most people that panicked will understand now why it is not the best thing to always listen to words that come out from some of these guys mouth with respect to bitcoin.

If someone did it, it does not mean it was Jamie because he would surely have thousands of workers who he probably didn't know and cannot account for their actions. It would then be unfair to hold him responsible but if it can be established that he did it, then lacked the moral uprightness to make such statement.

Quite a funny scenario from darkangel indeed. He had it all planned out and luckily for him, his plans fell through. I am very sure in the next few months he will come out to give reasons behind his former hypocritical speech. It is his luck anyway and not so much luck on the part of those that quickly dumped even while loosing. Now, they know who they just dashed their money to. Someone who has been stealing from them all this while. Checkmate!

Am I surprised? No! apparently, so many people fell for his pranks and he is so happy now buying at dip. He must have really been smart after all and he needed a perfect point to buy in below support level and once the support kicked in, he kicked in too. ;D With all his blabs, I suspected this was his plan.

Definitely after FUD'ing Bitcoin the next action would be buying cheap Bitcoins in the market.  Their company transaction shows that they ( they said it was their client who asked them to buy Bitcoin) bought hundred thousands of dollar worth of Bitcoin. If they bought it at sub $3000, they already got at most 50% profit from their investment.  This is indeed a lying to people and setting up FUD to create panic for them to buy the item at cheaper price. 

He made that statement to have the price low then buy most of the coin for investment, such a hypocrite.