Bitcoin Forum

https://talkimg.com/images/2023/11/15/FUJd2.png
https://www.barrons.com/articles/bitcoin-crypto-markets-today-32ed3659

---

After a small correction which was seen by everyone who knows how Bitcoin works, the analyst at the top company like J.P. Morgan thinks the Crypto Rally, especially Bitcoin is done.
How can they be so bad at their profession? I don't have a finance degree and I was able to call the $26k to $40k to $30k like two months before it all happened.

What do you all think about this?

What is the person referred to? An analyst. As some analysts will be saying A, some other analysts will be saying Z. What you can just do is to buy and hold bitcoin and relax because bitcoin is going all-time-high by next year and next 2 years.

Some analysts predicted that bitcoin will fall to $20000 again but it did not happen but increased over $35000 instead.

Most of these "analysts" are fossils — I don't think they can even grasp the concept of why bitcoin has 'value'.

But yea, even if from a trading perspective, you really can't expect every single person to have the same price predictions; someone has to be wrong, someone has to be right.

Their analyst is doing what’s their company wants. They are thinking using their balls instead of their brain when it comes to Bitcoin. Their company probably missed out the dip or just recently take profit that’s why they resort to this kind of shitty prediction just to fuel FUD in times of correction.

I bet that they are spouting now about Bitcoin target price is 1M if they are holding Bitcoin right now.

Quoting what my girl Taylor Swift said:

Let’s just shake them off! :D :D :D

There are only two possibilities from here: bitcoin is done now or we have bull run in next two months. Be predicting one of these, they have 50% chance of success. Many are bitcoin supporters of bitcoin here and will thus not like this prediction though.

Analysts have been known to give their two cents on the price of Bitcoin over the years and while some of their opinions should be taken with a grain of salt, I'd prefer to ignore this one. There has been so many predictions concerning Bitcoin price and although they are trying to prepare investors to not get carried away by the sudden jump, I feel it's not necessary. If this is their way of spreading FUD, they are doing a pretty poor job at it. What do you expect of them though? Sitting in their fancy offices and making these funny assumptions about Bitcoin just goes to show how little they know about it.

Whenever I come across crypto news involving J.P. Morgan, I anticipate negative comments about Bitcoin. They have been critical of Bitcoin in the past and seem resistant to acknowledging its successes, despite being proven wrong multiple times. So, my advice is not to pay too much attention to this company; they may not be presenting an accurate picture of the situation.

Some of the news in the past involving this company.

JPMorgan CEO Jamie Dimon says he’s still a crypto skeptic: ‘I’m not a bitcoin supporter. I have no interest in it’’ (https://www.cnbc.com/2021/05/04/jpmorgan-ceo-jamie-dimon-im-not-a-bitcoin-supporter.html)

Jamie Dimon’s infamous 2017 bitcoin takedown still serves as a warning as the decade winds down (https://www.cnbc.com/2019/12/20/jp-morgan-ceo-jamie-dimon-in-2017-calls-bitcoin-a-fraud.html)

Analysts would say all sorts of things, that is their job. They need to have something to say to their bosses who would appear on live TV to have something to say to the TV presenters. I empathize in advance with those who would listen to their BS and decide to invest based on whatever garbage to have to spew out of their mouths against bitcoin.

Wise and smart investors know to buy and hold. It doesn't matter whether it is reaching its ATH or not, what matters is that as long as it is not depreciating in value.

What I see is a deliberate attempt to spread fud with the aim of discouraging more buys so price can give them a discounted entry. I know JB Morgan have interest in Bitcoin even though they have not had the boldness to come out openly. The rally they referred to actually caught a lot of them unawares and also show them that Bitcoin is not to be written off as most of the big cooperations are making people think.

They will continue to be wrong as far as Bitcoin is concerned and soon they will realise that "if you can't beat them, join them"

I would take everything JP Morgan will says about crypto or bitcoin in general. Haven't we have learn from the past? Remember Jamie Dimon statement about Bitcoin wayback in 2017?


https://www.binance.com/en/feed/post/1227695

So it's pretty obvious that they have their own intentions to create another FUD. But the good thing is that majority will not fall for it. Better just ignored this noises, when we goes on a bull run, they will obviously back pedalled again or we don't know just like what they did before, they could be simply accumulating and wanted to buy at a cheap price.

When the market rises, people will talk all manners of things, when the market equally falls, same thing will go viral and the news begin to spread about every possible events that lead to having such market experience, as long as bitcoin market is concerned, it will always be volatile and there could be any reason to have cause a market rise or fall under it's demand or supply level, i wonder if alot had not been said already by Michael Saylor as well under this same short dump on market price.

This J.P Morgan knows nothing about Bitcoin chart, why Bitcoin becomes bullish depends on it's movement, weekly, monthly and yearly price actions, it's all in the chart, so he is just using his influence to gain attention and maybe cause some rukus.

I have been hearing nonsense from many popular people since 2017 and most of them have learned but some haven't, everyone is free to run their mouth but it will be stupid of you to take their words seriously, they know nothing, they predicts and something else happens, is this the type of people you want to believe?

I've learned to never get carried away by someones point of view in crypto space, I don't care, you will end up getting confused if you follow anyone, let your own be to buy when the market is bleeding and sell when the market is surging, use bear market and bull market to your advantage, forget what others are saying.

I cannot read the article because it is either paid or requires a subscription, but for J.P. Morgan made some predictions that were not accurate or that were taken out of their wording, and I believe that the reason for this is that these people analyze Bitcoin from the point of view of the stock market without considering that Bitcoin is a useful thing and deserves to have tools different from stock analysis tools, or they make this statement or wrong information in the hope of lowering the price and buying at a low price. Bitcoin is not affected by these analyses, making it ineffective.

They are not bad at their profession.  In fact.  They are actually impressive at their profession.  They have a purpose for most articles.  And honestly.  Who would expect positivity and support from J P Morgan in regards to an asset providing an alternative to what they made money out of.  They are still a business, not charity.

always remember...

when influencers want to sell they try to excite others to want to buy.. so they can sell higher
when influencers want to buy they try to depress others to want to sell.. so they can buy lower

a large institution wanting to buy. wont shoot their own deals in the foot by making the competition outprice them. they will want to kill the competition to maximise the best deal

dont always believe what someone says without them explaining why

..
gotta love the article title
"Bitcoin Loses Out on Post-CPI Rally as Stocks and Gold Soar While Cryptos Fall"

it tries to insinuate that bitcoin reacts to US dollar financial news..
but
bitcoin has its own economy, its own economic reasons for speculation. its own underlying economics that hold its value support below the market. bitcoin is different and not affected by the US dollar drama

They are just doing their jobs. If one of the analyst thinks bitcoin rally is done that doesn't mean everyone at JP Morgan thinks the same.
Saying that JP Morgan thinks crypto rally is over is not appropriate because it's not like the company has made an announcement or anything.

For some reason, I am not able to see that latest post in this article. The latest post displayed is from Nov 14 and not Nov 15.
Have this site deleted the post ?

Perceptions vary from person to person. It's important to do your own analysis and not rely on others. Bitcoin tends to follow its own path. Personally, I've learned a lot about the ups and downs. I'm a holder, but when I used to see the market going up/down, I would like to react based on my own thoughts.

We're currently in a healthy bullish uptrend, which is completely normal. Don't let news or other distracting narratives throw you off your game. Stick to the charts and your own strategy.

These so-called analysts in J.P. Morgan are based on the research report that the Bitcoin ETF might not bring the perceived turnaround that investors are predicting. They are of the view that spot ETF is already operational in Canada and some part of Europe yet it has attracted fewer investors. They are of the view that the positive impact of the spot Bitcoin ETF has been over-hyped because it might not attract billions of dollars as predicted.

You don't have to pay attention to these predictions that are based on mere speculations or hearsay. A few months ago the same analysts came up with two predictions on the price of Bitcoin.

JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why (https://www.google.com/amp/s/www.newsbtc.com/news/bitcoin/jpmorgan-predicts-bitcoin-btc-to-revisit-45000-heres-why/amp/)

Bitcoin at $146,000? JPMorgan Thinks So (https://www.thestreet.com/investing/bitcoin-cryptocurrency-146000-jpmorgan-analysts)

Analysts at top company like J.P. Morgan know what they say, they aren't drunk. Thy have tons of money in their pockets and are highly educated but that doesn't mean they'll be honest and frank with people. They own centralized services, own financial institutes, have influence on billions of people and control them by controlling the money supply. Why do you expect them to say anything in favor of crypto? BlackRock owns 194.92MM shares of JPMorgan Chase & Co that translates as 6.6% share of the company. BlackRock invests in Bitcoin but J.P. Morgan says bitcoin will fall. Does it make sense? I think the message is clear, they are manipulating the market and people.

i bet those words come from Jamie Dimon. J.P. Morgan does have their own blockchain and they have their own coin too which they would like their investors to use than something else like BTC. that's how it makes sense.

somehow they ask where the money will come from to pour into Bitcoin like they don't know. or he just forgets that the limited supply of BTC and halving is also coming making the rally far from being over.

Well, since when?, the star JP Morgan  loves you and is your source for decision making,  :)
Are they not one of the main protagonists of "oh shiT... they did it again..."

Unfortunately they always want to be seen as the status quo, given that pitifully there are no relevant institutions, which there are, but their impact is in our sector, not in the traditional one.

They've been guesstimating a lot of bitcoin's price movements for years and didn't get one single thing right. They'll just share their insights long after the coast is clear and everything has laid itself bare. Most of these big banks laughing at crypto after it has flunked are not really gaining anything from what they're doing. They're just making themselves look the fool thinking that they look smart on their part.

Anything that J.P. Morgan puts out regarding bitcoin and crypto up to this point is not really something that is worthy of attention. They have the money and they have the investments, but they don't have any credibility when it comes to cryptocurrency.

It almost feels like J P Morgan is afraid they missed the recent Bitcoin train and forgot to buy Bitcoin low so they try to depress.  Obviously they are not writing these articles to make any of us rich but themselves.

The title of this article is nothing more than to attract visitors' reading interest. I'm not interested in subscribing by paying 50¢ per Week to continue reading.

JP Morgan, which I know is a large company in the financial sector originating from America. I don't know exactly how they analyze the market but I have a hunch that big companies like JP Morgan have a strategy of exploiting all their capabilities to make profits like a general strategy that is often used by other companies by making statements that tempt people to sell when prices are cheap and they will buy it in large quantities. I found another article that has something to do with the pattern I mentioned.
They called Bitcoin a 'fraud', then JP Morgan bought on the dip[1].

JP Morgan considers the big rally to be too much of a business strategy to play.
It is normal for them and other companies to think so because they have business goals. Once things change from an upturn to a downturn, that's where the opportunity lies for them.

[1]. https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

Looks like JP took a chance with this prediction trying to slow down bitcoin and bitcoin showed JP the middle finger. Not literally of course.

Banksters are getting desperate watching bitcoin do its thing. I bet their trading desk went short before the article was published. I hope it was a leveraged short that just got liquidated.
No love for banks here.

News like that matter only to traders. If you're the average Joe who DCA, or you're a long time hodler who saw 16k and below, you don't care. So who are they trying to scare away? Institutions don't read JP reports.

maybe, they just want to create some fud to big stakeholders or big companies but i don't think they have such influence to those big ones because they have their own assessments on this market.

It looks like JP Morgan company is planning to accumulate Bitcoin at a lower price.  This is the probable reason of the released statement of JP Morgan and nothing else.  If he dislikes Bitcoin he can just say it once or twice, but keep on repeating it make him looks like ...

Anyway, I never trust any analyst's statement without verifying it with my own research.  Analysts are here to make predictions. whether they are spot on or not is out of their concern, what matters to them is to make a comment about the recent financial movement of the market.

JP morgan's predictions had been shamed by Bitcoin many times, I though he is out of the picture because it was too long when I last hear of him saying things about the Bitcoin market.  I missed the hate somehow, lol.


That is what I am thinking.  They wanted to make a last price pull before the halving and Bitcoin bull market commence.

We shouldn't take anything that JP Morgan says or anyone that has a huge influence in the financial market seriously.

Whatever they say are for their own gain and look, after what he said. Boom, Bitcoin is back to $37k and that's what overdone is for? It's not even starting yet for the best that it can push through.

But whether we like it or not, expect more of these articles from paid publish medias because they'd do anything to make everyone's feeling down to sell your Bitcoins to them cheaply.

If all the crypto analyst's statements about bitcoin were accurate, I would have told myself to start worrying about what J.P. Morgan has already said about bitcoin. However, based on what I heard from numerous crypto analysts, none of them have accurately speculated about Bitcoin; instead, they've made incorrect projections of it.

At times I see crypto analyst words like words that have no value in the crypto space. people no longer adhere to or believe what they say because what they say doesn't make the bitcoin price bubble or price decline.

I believe you knew about that well so following information is not helpful for you but I share it as it is helpful for newbies who don't know about historic attack of Jamie Dimon and JP. Morgan against Bitcoin.

JP Morgan's Dimon says "Bitcoin is a fraud (https://www.reuters.com/article/legal-us-usa-banks-conference-jpmorgan-idUSKCN1BN2PN) (2017).
JP Morgan's Dimon blasts Bitcoin as 'worthless', due for regulation (https://www.reuters.com/business/jpmorgans-dimon-blasts-bitcoin-worthless-due-regulation-2021-10-11/) (2021).
JPMorgan to give all wealth clients access to crypto funds - Business Insider (https://www.reuters.com/business/finance/jpmorgan-give-all-wealth-clients-access-crypto-funds-business-insider-2021-07-22/) (2021).

Do take words from JM Morgan's Dimon seriously!

JP Morgan's positions have changed in recent years, as they were repeating that Bitcoin is a scam in the year 2017, and in 2021 the matter changed to 'worthless' and finally they started saying Bitcoin Is Undervalued By 28%, and today they say Crypto Rally Is Overdone. It is an opinion that differs according to the different time periods, even if it takes effect. Regarding the price, you will find that in 2017 the price increased and in 2021 the opposite happened when they said Undervalued in 2022 when the price decreased.

https://www.cnbc.com/2021/10/11/jpmorgan-chase-ceo-jamie-dimon-says-bitcoin-is-worthless.html
https://www.forbes.com/sites/ninabambysheva/2022/05/25/jpmorgan-says-bitcoin-is-undervalued-by-28-says-cryptocurrencies-are-now-its-preferred-alternative-asset/
https://www.theguardian.com/technology/2017/sep/13/bitcoin-fraud-jp-morgan-cryptocurrency-drug-dealers

When they say one thing, do the opposite.

Good. Who gives a fuck what JP Morgan says anymore. We are not their target audience, they speak for people who don't know bitcoin well. After so much flip-flopping, as Husires comments, one can't be too surprised by what they might say anymore, and it certainly doesn't influence my investment strategy in the slightest.

That's literally the same thing they say every time. There is no analysis in their statements, because their statements are always based on the same incorrect assumption: that Bitcoin will ultimately fail and fall to zero because it has no value or use.


There is no reason even discussing stuff said by people like this. Their only goal is to try to convince people to sell their Bitcoin. No matter how many times they are wrong, and no matter how much bitcoin goes up over the years as they make this claim over and over and over again, they will keep making the claim, until they get replaced by younger more agile thinkers who understand why the world wants such a revolutionary form of money.

Are you sure he is an "analyst at a major company"? I doubt he knows anything about analysis, there is no need for you to answer him because Bitcoin has just done so and quickly returned to above 37K$ as we see now.

I think that this talk has nothing to do with technical analysis, but rather it has to do with the policy of getting closer to governments. These large banks are very interested in getting closer to governments, so they shout against Bitcoin to gain the favor of the American government, as they know that it is hostile to Bitcoin.

I do not think anything when something comes from the analysts of JPM. They are following the footsteps of Jamie Dimon who is a known hater of Bitcoin. Jamie has tried to spread negative sentiment about Bitcoin multiple times in the past. Now he is trying to do it through their analyst team. But the funny part is that, the crypto market has stopped responding to whatever they say.

So I will suggest to stop thinking about it. JMP is expected to deliver negative analysis and negative statement about Bitcoin as it is their agenda. But as a sensible person, we should stop talking about those negative things. Chill and invest!  

Some who apparently still think that such institutions are crucial to Bitcoin in any sense. Unfortunately, the world is full of such people who make their life decisions based on what some JPM analyst said or what people like Buffett and others like him think about Bitcoin. Apart from that, I guess we have convinced ourselves countless times that various so-called journalists are nothing more than ordinary mercenaries who write at the behest of those who pay them to do so.

All those who listened to various Buffetts and Dimons in the past are sure to regret it today when they see that Bitcoin is not a mirage or a rat poison squared.

I think it's more about integrity than professionalism. You're assuming that they sincerely believe that Bitcoin rally is done and are providing their reasons, which is why you're questioning their competence. I think they have enough education and experience to know that what they're saying is unfair, but they say it anyway because they lack integrity. The article itself is, unfortunately, under a paywall, but I've seen similar ones written by people working for highly reputable companies, published by highly reputable media outlets. I think they publish what they feel will get them views because views translate into money. An article "it's just a correction, nothing serious" doesn't incite strong feelings and isn't likely to gain attention, unlike articles that make provocative claims.

Neither going up or down, whether it do pumps or dumps. There would really be just only two possible path or way that it would really be able to take and its true that each one of us
does have their own particular taking or say about on the price and there would be no indeed right or wrong on which we do have that freedom on what we would gonna say.
These banks,instutions, billionaires or fiat lovers would really be always have something to say. Yes, it do really sucks on hearing out those words
but we know that this market would really be that less exciting if there would really be no contradiction.  ;)

It is too early to say that the Bitcoin rally is over. It's actually still in its early stages. Bitcoin upward impact will continue, it's just a matter of time and we can see it for ourselves in 2024. JP Morgan may be trying to stop Bitcoin users optimism and hope they abandon it. However, the more he emphasizes the downside the more everyone realizes how important Bitcoin ownership is right now. I think it's fair to support opinions in the midst of an imminent drop in value to create negative speculation and take advantage of people offloading Bitcoin at a cheap price.

 The crypto system is an existential threat to nation state currency as well as to the fractional reserve banking system and to their enablers. It is incompatible with fractional reserve banking. The crypto system is based on a transparent record of truth, captured forever in a giant record book, and on value that exists today. The fractional reserve banking system is intrinsically dishonest: bankers will tell you that your money is both safely in the bank and, at the same time, they are lending it out to others. They will tell you that it is your money while, legally, it belongs to the bank and they can do what they want with it.
   Only one of these two systems can survive. They cannot co-exist together in the long-term. They are not going to be best friends, give each other warm hugs, and talk about a win-win paradigm. Their values are completely contradictory. Expect the banks and their enablers to continue to be relentless and underhanded when attacking the crypto system. To be blunt: if the crypto system can link to the real economy and challenge the core banking of deposits and lending, it will replace fractional reserve banking in the next decade and benefit all crypto firms. If not, it will remain a niche movement.