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JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around)
https://www.youtube.com/watch?v=O-sQJPC0n2E&feature=youtu.be (https://www.youtube.com/watch?v=O-sQJPC0n2E&feature=youtu.be)

it was posted last 28th where the coins spikes as well. good to know. i would really be laughing if its Jaime that speaks there on TV but of course just like Warren they wouldn't admit they themselves are collecting BTC.  the only reason they'd be bullish today is sure because they have already collected a stash since the start of their campaign to spread fud.

Those people sometimes we don't know what really is in their minds, and most of the time if they say something, we know there is hidden agenda about it. And of course, it is favourable on their side. With the change of stance towards bitcoin, I believe he is now a big holder of bitcoin.  :P

Other banks will also follow soon.

They were going to say that long back but, could not because of the fear of losing financial authority. Now they know they cannot, hence use it for their own financial benefit.

I am only waiting for mainstream media now to declare Bitcoin is not a Ponzi scheme.

It isn't a huge turnaround. The author of the report, JPMorgan analyst Nikolaos Panigirtzoglou, has been tracking and reporting on Bitcoin's "intrinsic value" -- essentially marginal mining cost -- for at least a year. He has long maintained that gaps between marginal cost and price can be resolved either by a change in price or a change in marginal mining costs.

Noticeably, the hash rate fell 6% since the halving and is expected to fall another 6% or so next week. This means the "intrinsic value" of a bitcoin is declining, and may continue to decline.

and he realised that if he cant beat btc, better join the pack. for sure, he's been following the btc market for quite some time already and only a matter of time when to say this statement. what are the odds that he's been secretly collecting stash of btc and other alts for the past years???

JPMorgan has already started to turn around years ago. Their conversion is gradual, though. So this is not a huge move anymore. Their controversial CEO once publicly decried crypto, only to launch its own a year or so later. And then, just recently, they opened their doors to cryptocurrency businesses, accepting two of the largest names in the space: Coinbase and Gemini.

I guess this realization of undervalued Bitcoin is coupled with the realization of overvalued fiat. :D

The opinion of JP Morgan towards Bitcoin and cryptocurrencies in general isn't relevant anymore.
They are constantly trying to spread FUD in order to lower the Bitcoin price,so they could secretly buy some cheap Bitcoins.Banks like JP Morgan,Goldman Sachs,Citibank,Bank of America are well known for manipulating any market they are in.I wouldn't trust the analysis or opinion coming from any guy that works in those banks.
They are a bunch of liars and hypocrites.It would be great if we just ignore all the Bitcoin news coming from such banks.

IMO, JP Morgan sees Bitcoin as a competitor for its decentralized value which if global adoption happen it can definitely shut down their business. I'm pretty sure that they have Bitcoin as well but we just need to understand them that they are only saying these things maybe because they need to hold on the business protocol.

In the future it will be chaotic to bank industries if people continue to adopt and embrace Bitcoin for their daily transaction for everyone will start pulling out their savings in the bank and invest it in Bitcoin instead and no bank will never want that to happen, this could be the reason they are telling this rubbish statement.

JP Morgan has been flip-flopping opinions for years on cryptocurrency, just like all the other centralized institutions.

Maybe sane minds on the inside finally managed to get them to buy a massive chunk of BTC, and NOW that they are holding, they claim it's undervalued to pump their bags.

They were anti-bitcoin before and says that it's a fraud.

Who else is imagining that the Goldman Sachs statement will also be turned like this?

I think Goldman Sachs had been bullish about BTC for a long time ago. I can't remember them telling bad things about BTC though. But I have heard of them investing to BTC. The money of institutions is coming but its not yet very obvious, they are probably buying bits by bit and until one of them executes a very big amount of buy order the climb of the price may be slow.

I still remember when this stupid bank owner is spitting useless criticisms regarding Bitcoin. It was 3 years ago.

Now he is doing the opposite already and added a Bitcoin Exchange in their banks. I know that some are happy that a huge name is supporting Bitcoin but if you will remember the things he said last 3 years ago then you might feel frustrated too.

Anyway it happened already. We have nothing to do right now but to be happy that a popular name is supporting Bitcoin. I just hope that his support will be long term and he isn't just supporting it because of the pandemic.

I disagree. The reverse could happen. Banks could provide crypto like BTC etc as alternate payment options which would be mutually beneficial for both crypto and the banks. This is the best case scenario in my opinion.

You can never expect a firm like JP Morgan to keep their promises in the long term. It's good that they are supporting crypto currently, but history suggests that they flip-flop a lot like you mentioned.

Just recently, we've seen reports from Goldman & Sachs saying bitcoin isn't an asset class and not recommended for investment. Are they following the same playbook?

JP Morgan "shill" vs. Goldman & Sach "fud" soon? I hope we get to see it happen. That would be fun for sure.

If it happens....
https://external-content.duckduckgo.com/iu/?u=http%3A%2F%2Fwww.reactiongifs.com%2Fwp-content%2Fuploads%2F2011%2F05%2Ftumblr_ljh0puClWT1qfkt17.gif&f=1&nofb=1

Wall Street wants bitcoin whether they admit it publicly or not. We’re going to the moon & there’s nothing anybody can do to stop it.

People may take time to realize how good bitcoin is but they'll realize it sooner or later. But every statement by these bankers needs to be looked with suspicion.
JP Morgan called bitcoin bubble, restricted his bank to work along with crypto. He eventually bought some cheap coins and now has changed his narrative of bitcoin as well policy of his bank. This person can turn anyway if he sold his coins in the future.

First, Jamie Dimon, the man you're probably referring to, is not the owner. He is just one of the shareholders. He doesn't make the decisions on behalf of JPMorgan.

Second, it sounds a bit awkward to call a billionaire stupid. Even the brilliant boys like you and me haven't made a single million dollar yet. Incidentally, there are also people calling Warren Buffet stupid because he is not convinced of Bitcoin. I don't know which among us are the real stupid. Coincidentally, Warren also partly owns JPMorgan.

It's just selling the news for now, especially for those big players in the finance world now, like these kinds of bankers.
For sure, if they say some financial things especially about Bitcoin, lot of people will start become curious about it especially when he called before that Bitcoin is a bubble.
Also, we can't assure that he own some Bitcoin, but it doesn't matter at all.

It's too early for now for sure. I think it is also much better let's stop the hate on wall street even some of them hate Bitcoin, they are also a good factor on Bitcoin somehow.

I do remember that Goldman Sachs was favorable to bitcoin but there were a sudden drama and change of heart. See the old articles made.

--> https://www.bloomberg.com/news/articles/2019-08-12/a-goldman-sachs-analyst-is-bullish-on-bitcoin-but-is-goldman

--> https://learnbonds.com/news/goldman-sachs-recommends-investors-put-money-into-bitcoin/

On the other hand, the strategy that JP Morgan and Goldman Sachs is probably the same ploy.

Well that sort of explains it all. They all collab each other to consolidate thier influence but they now realize they can't beat the technology.

Warren still wants to portrait like he doesn't own BTC nor have interest to BTC after Justin Sun gave him one. But I'm not gonna be surprise soon if the two Jaime and Warren goingt to tweet asking everyone how to recover thier wallet password.  ;D

Warren is too old for this shit though, his time's passed. Soon enough he'll forget a password for his brain as well

JP & friends are getting so confused here: clients and HNWIs keep asking exposure to crypto while JP & friends need to sell their toxic derivatives. Pandora's box got opened, no going back from here! Get your bitcoins while they remain cheap.

Even JPMorgan is bullish, nice for the industry

Not really. They are known for market manipulation.
When they were bearish and Jamie was tweeting how he'd fire any employee caught trading Bitcoin, they were actually buying. There's a chance they're trying to pump the price past 10k and sell for a profit.
Anyway, they're right about it being undervalued. Bitcoin was pumping to 14k USD almost a year before the halving and is staying at 9k after? It should be at least at 15 by now.

Companies like JPMorgan represent the worst capitalism can offer. It's a highly influential and super-rich minority that messes things up (the world economic crisis) and get's caught doing illegal stuff (for instance, drugs (https://news.bitcoin.com/jp-morgan-chase-ship-busted-cocaine-banks-and-the-failed-drug-war/) and money laundering (https://www.nytimes.com/2017/12/21/business/jpmorgan-money-laundering.html)) but eventually gets away with it. They've been doing their best to make Bitcoin go down (probably to buy cheap) and are not talking about it being undervalued (perhaps to get a return on the investment). So taking all that into account, I don't feel happy their stance towards BTC seems more positive lately. Bitcoin was made to show that we don't need these manipulative capitalists, not to give them a chance to profit.

Yeah, they can pump it anytime now and then sell slowly or dump. After the profit taking, they will create FUD once again and say that bitcoin is overvalued ;D

Whether we like it or not, bitcoin became an investment asset and because it's a free market, anyone can take part. Institutional investors coming in is bound to happen and many have predicted that they'll join sooner or later. I also remember some time in 2018 reading posts from people hoping institutional investors to inject money into crypto because they can no longer endure the bear market.

yeah, so price will rise, then they will dump it all on us.
I don't believe neither JPMorgan or GS.
And as long as it will not appear on first pages of newspapers, and as long as media are not providing good narration for bitcoin - we should take it with big distance.

GS drunken intern stil try to tell us it´s rubish but JP already changed their mind. It´s truly a clash of the titans, https://cryptoslate.com/clash-of-the-titans-jpmorgans-crypto-stance-could-offer-edge-over-goldman-sachs/ 

Even if Jamie Dimon secretly still hates BTC, they showed an unprecedented sense for developments outside their comfort zone

As I read in the news, back in 2019, JP Morgan did state that BTCs are fraudulent. Now, hae apparently changed his mind and now opened his bank to cater to bitcoins and cryptocurrency. I think this is good because well at least, the company and its management is open to progress in terms of services, to who it caters to and what products it provides. It’s really progressive and I think a little bit more time JP Morgan can expand more and more on his services.

While we may express some negativity on this turnaround, this is actually helping Bitcoin in some ways. One, it is offering more legitimacy to Bitcoin as far as the Wall Street is concerned. Two, this is cementing the credibility of Bitcoin as an important asset that many investors and traders should be involved with. Three, this can partly open up more markets to Bitcoin and cryptocurrency as the world right now can be looking for good alternatives where to invest their funds. Yes, two years ago I also express some discontent on JP Morgan but these days it is taken more as a friend to Bitcoin, though of course we must remember that these guys are doing things for profit.

That turned long ago on their first statement. They have started their own type of cryptocurrency. Sometimes, I think all this people are the main market manipulator as the meme say, remember?

https://i.imgur.com/iLieevI.jpg

they are following the wave, before they must have thought that most governments would ban bitcoin and for that reason if they spoke well about bitcoin it would be the same as becoming enemies of governments, but as yet they are not seeing any signs of many governments take tough actions against bitcoin, so they realized that bitcoin is an asset that is here to stay and is also an asset that is gaining a lot of attention, it all makes them also get on the wave