What the hell is JPMorgan upto?

[Vritesh]

J.P. Morgan's CEO played very well. Jamie Dimon manipulated the market for his advantage .Firstly he was against the use of Bitocoin and he called Bitcoin a fraud. Moreover he  recommended everyone to stop investing in Bitcoin. This made Bitcoin price to fall down .Then he buyed large number of Bitcoins at very low price and thus made J.P. Morgan  to become biggest buyer of Bitcoin.

[NewBet]

JP Morgan is the one who caused all of this FUD, along with China, and then when the price dropped they "changed their minds" and decided to buy Bitcoin - a total of MILLIONS worth of Bitcoin in a single few hours.

[BingoDog]

I don't see the problem in JP Morgan but in people who were listening to that and thought this realy could have the impact. Because of ignorance and lack if information too big importance was given to those words. And many were some hidden interests behind that but bitcoin users shouldn't fall for this so easily.

[StockBet.com]

Jamie Dimon's daughter bought Bitcoin.

They probably coordinated it.  Jamie slams Bitcoin with his bashing.  Daughter scoops in and picks up bitcoin for cheap.

[BitFinnese]

I don't see the problem in JP Morgan but in people who were listening to that and thought this realy could have the impact. Because of ignorance and lack if information too big importance was given to those words. And many were some hidden interests behind that but bitcoin users shouldn't fall for this so easily.

I agree he just stated his opinion, whether that is to confuse people or literally  discredit bitcoin to his gain is out of our concern. We have our minds and we can do research.  Besides he never told people to sell thier Bitcoins, just some rumbling like this and that.   Anyway I think it is clever way of accumulating Bitcoin from people who never do their assignment. (research) before making a decision.

[Bitcollector]

Trying to disrupt the market and benefit from it ! They just took advantage of he China banning exchange, and then someone from them said it was fraud, which had some influence in how the bitcoin value decreased. And now, they are buying them. Maybe they think it won't go below this price, or they are buying some now and other later when it get a bit more down. It's exactly like what we do, except they invest very much money at once.

Jamie Demon is a liar. That's all that it is. $3200 and around that price is an excellent buying point.

My guess is the price will stall for a week or so then, afterwards, will continue upwards.  That's my guess. Now and the next few weeks is an excellent buying point. 3 years from now, we won't even remember this day.

[pitiflin]

Enough of double standard!

See this is what investors do, try to manipulate the market, they very well know what factors influence the the prices and the markets and how big can their profit extend to, they plan it out accordingly and implement it, it works and they complete the rest of the plan. And it's the people who act foolishly and then pay for the consequences, so many people say don't sell bitcoin whereas they themselves end up selling what they have afraid of a loss, pathetic investors seriously.

[darkangel11]

Trying to disrupt the market and benefit from it ! They just took advantage of he China banning exchange, and then someone from them said it was fraud, which had some influence in how the bitcoin value decreased. And now, they are buying them. Maybe they think it won't go below this price, or they are buying some now and other later when it get a bit more down. It's exactly like what we do, except they invest very much money at once.

Jamie Demon is a liar. That's all that it is. $3200 and around that price is an excellent buying point.

My guess is the price will stall for a week or so then, afterwards, will continue upwards.  That's my guess. Now and the next few weeks is an excellent buying point. 3 years from now, we won't even remember this day.

Unless there are more disrupting news from China. Don't forget that most of them haven't sold or we'd have a much bigger dump to deal with. I think they are remaining positive, sitting and waiting for the government regulations. If those regulations happen to be very strict more Chinese holders will sell which could retest the bottom levels.

Did any of you think that daddy might be buying daughter's coins just for fun? You never know with a loaded freak like him.

[robelneo]

Jamie Dimon finally earned a fortune to his daughter who was supposedly being mocked by his father of being Bitcoin enthusiast.

If what you are saying is true, then Jamie Dimon must be investigated for inside trading and fraud. This is not a silly matter. As a result of his irresponsible statements, he caused financial ruin to many hundreds of thousands of people. If it can be proven that he made the statements in order to help his daughter, then both of them must be sent to the prison.

Is this possible, he is not playing fair in that case but with his millions and a lot of lawyers behind it, he can get away with this, but anyway he indeed commit a controversy and a scandal with his statements but Bitcoin now is getting back and what happens is another entry to a long list of Bitcoin obituary.

[btcprospecter]

We all seen this coming after their announcement. Very easy for the big players to reap big rewards when they have alot of capital behind them. Just like anyone else they have a fear of missing out and any opportunities they have to increase their foothold they will take same as any of the big financial institutions.

[contraband]

We all seen this coming after their announcement. Very easy for the big players to reap big rewards when they have alot of capital behind them. Just like anyone else they have a fear of missing out and any opportunities they have to increase their foothold they will take same as any of the big financial institutions.

You knew they werent going to go down without a fight. Hurts us short term, but we are bouncing back for a big rally in the long run!!

[AtraxPool]

What website was that the charts came from please..

[sch_lau]

Haha this makes me laugh since JPM apparently wants to work with blockchain technology. I don't know whether I should take JPM's assumptions about bitcoin seriously, especially when I see how much they invested in bitcoin... Could it be fake news or encouragement for people to sell so they can buy more?

[GreenBits]

Haha this makes me laugh since JPM apparently wants to work with blockchain technology. I don't know whether I should take JPM's assumptions about bitcoin seriously, especially when I see how much they invested in bitcoin... Could it be fake news or encouragement for people to sell so they can buy more?

A little bit of both, it seems. this was designed to reduce confidence, that is, bring the price down. at the same time, the obvious incentive for bringing the price down is so that one can buy more. to be honest, shit like this should be illegal, as it is with normal, regulated securities. I cant go shit on someones asset to drive the price down just so I can buy it, this is the definition of market manipulation (esp with the subsequent trading that JP did after their statement). its funny, he shit on bitcoin in one sentence, and then admitted that his daughter had invested in bitcoin and did well in another.

i think he has butthurt

[cptdome1]

Is anyone surprised by this move?  They probably just made a bunch of money!

[Yakamoto]

Weren't people talking about how JP Morgan was literally causing this crash by releasing a bunch of statements that were intended to wreck the value of Bitcoin, so they could buy more? Didn't people already know about this?

It's not even surprising that they're doing something like this, it was almost guaranteed that their statements are designed around making Bitcoin lose value so their own interests would be furthered. Seeing them buy up like this just confirms what people have been saying for the past few weeks. Maybe they just picked up on the signals faster.

[iL_P4driNo]

They just want low prices as anyone else.

[GreatOrchid]

Yeah probably he is trying to do a extremely FUD to be able to buy bitcoin at a reduced price, that is why i have beeing investigating among the past days, and that is the most fair theory that i have.
Remember that bitcoin touched $2980 in the past days, so it was a great fud... A lot of people could buy bitcoin at that price, and now it is upto $3700 each.

[AtraxPool]

Mr Robot has the right idea!

[endaiin]

They want monopoly the bitcoin, when people sell they buy all... lol. classic strategy.