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They(not only JP Morgan) do it all the time, manipulation by news(say bad things when they want to buy, then change the tone when they want to sell) and play with inside information, specially in 3rd world countries.
Of course with bitcoin the manipulation was more explicit because there is no law against market manipulation and inside information with BTC and people know almost nothing about it, so it is easier to bullshit around and convince people.
The last days have been, let's say, didactic in this aspect.
Of course with bitcoin the manipulation was more explicit because there is no law against market manipulation and inside information with BTC and people know almost nothing about it, so it is easier to bullshit around and convince people.
The last days have been, let's say, didactic in this aspect.
What is surprising is how this is not illegal, I mean, it's not really surprising since these billonaires control the system itself and can always get themselves out of jail, even after scamming people billions:
https://www.vanityfair.com/news/2017/09/jamie-dimon-billion-dollar-secret-jp-morgan
Anyone can see how it was obvious insider trading. Im sure that Jamie Dimon's daugther had a short set before his dad went on mainstream media and scared investors off Bitcoin, then they bought it back and once again hodlers won and panic sellers lost. The only way to defeat these criminals is by never selling BTC.
Deregulated markets. "Insider trading" isn't (yet?) illegal in the United States when it comes to bitcoin. Only with legacy regulated assets. The crypto industry is becoming more resilient to this sort of FUD. Fundamentals are stronger than they've ever been.
