JP Morgan buys Bitcoin (after Dimon crashed the market)

[intrader]

Since they have money and they are very influecial many people will listen to them and they know that the price will dip.Most likely they intentionally announce that to have an entry point to invest. Sneaky sneaky sneaky.

They can’t build they happiness on someone else’s pain, Karma will get their.

I agree. Some say it was a smart move on their part, but I don't think taking advantage of people's trustingness will bring one anything good. They knew well that people would listen to what they are saying and they were right, people indeed started panic selling after  JPMorgan CEO Jamie Dimon called bitcoin a "fraud". I'm sure some people lost money because of that and that's JPMorgan's fault.

One would at least hope that people that panic sold in the hands of Jp Morgan and China's ban would learn as JP Morgan has bought the dip heavily, but don't never underestimate how stupid people are. They see in front of their eyes that they got scammed by Jamie Dimon, and im sure that the next time Jamie Dimon goes on national TV to say how BTC is a scam, people will dump again because people are drones. It will take a lot of times until the common folk realize that they are getting their BTC scammed from the same people that are calling it a fraud, but meanwhile they will get intimidated by them and will continue selling, until then, let's rise again to new heights to prove them wrong.

JPM scammer pretty sure will using this trick again for next tv show, I feel like to throw shit on his face for this culprit

[zikabra]

What else to expect?
They spread FUD in just right time(china) and shake the market, price dropped and only logical thing to do is to buy more bitcoins. Now, new news has been launched(OP) and people will start to buy bitcoins again instead of dumping them and price will go up. Who earned money? JP Morgan...

[intrader]

What else to expect?
They spread FUD in just right time(china) and shake the market, price dropped and only logical thing to do is to buy more bitcoins. Now, new news has been launched(OP) and people will start to buy bitcoins again instead of dumping them and price will go up. Who earned money? JP Morgan...

People will never learnt from lesson next time he will say bitcoin is bubble again and buy another cheap btc

[Lmaooo]

JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper.

[Yakamoto]

JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper.

It makes sense though, as for why'd they do that, as I have said in another post they're capitalizing on the timing and trying to buy whatever they can so they can make money off of the market. They've seen the trends, they have to believe that they're (the market) going to do it again, so they see a great money-making opportunity. I don't know if I can even be mad at them about this. It also gave us a correction that was sorely needed. Glad that we got that, but it was probably too extreme.

[alyssa85]

JP Morgan has long been planning to crash the market in order to buy cheap bitcoins. They spread negative FUD and everybody panic and started selling Bitcoin, so the price went down as they plan, and then they buy bitcoin more cheaper.

The market didn't crash because of JP Morgan, it crashed because of China. I'd be surprised if JP Morgan knew China was going to close the exchanges - they have good connections, but even they don't have connections in the PBOC.

[Ligareaux]

Speculation is now the first tool biggers can use to move markets, it's only a matter of time, so cryptocurrences are strong enough not to be affected by this kind of disinformation ...

[Aventhe]

Well, JP is just always full of BS. They manipulate the whole market however they want.

However, I do not think that bitcoin crashed because of JP's statement, calling bitcoin a fraud. It was most likely a result of China's ICO ban, which is what I hear set out to be 'temporary'. I certainly hope that that will be resolved sooner than later and things can get back to 'normal'.

[Jake052478]

What JP Morgan did is so unfair to small Bitcoins player in the market.  What they did is to make Bitcoins look so vulnerable so that the price will drop down and afterwards grab the opportunity when bitcoins prices went low so that they can buy at low prices and when the prices went up.... they will probably gain a lot of it... tsk tsk tsk.... so bad....

[entrepmind23]

What JP Morgan did is so unfair to small Bitcoins player in the market.  What they did is to make Bitcoins look so vulnerable so that the price will drop down and afterwards grab the opportunity when bitcoins prices went low so that they can buy at low prices and when the prices went up.... they will probably gain a lot of it... tsk tsk tsk.... so bad....

That is their strategy to make the bitcoin price lower. China started it and they saw it as an opportunity to make it more low and since they knew that bitcoin price is so volatile and market sentiment affect the bitcoin price that much, they started attacking it again and they saw the effect of it. When they see that it's already lower so they started buying and the people knew it.

I hope it would be a lesson to the people who would immediately panic sell when there are news like this, many sold below $3k below thinking that bitcoin would not go back up again while others saw it as an opportunity to add more to their position. As for me, I just hold my coin and didn't budge even if the price go down because seeing that it is still higher than the price I bought my bitcoin, I am still in profit.

[Granxis]

Each price falls during the decline, after the price decline, this kind of rumor is happening, but I think it does not reflect the truth, JP Morgan just said his opinion, and therefore a lot of people hurt, but everyone can say own opinion.

[rjbtc2017]

What else to expect?
They spread FUD in just right time(china) and shake the market, price dropped and only logical thing to do is to buy more bitcoins. Now, new news has been launched(OP) and people will start to buy bitcoins again instead of dumping them and price will go up. Who earned money? JP Morgan...

Exactly! That's why i'm enraged with this news, he is so smart on manipulating and he can do that anytime he wanted to and with this kind of process i will now predict that a lot of big companies will do the same for their own benefit! which is not good!. Very very unfair.

[intrader]

Looking at his face also can tell actually he is a big scammer.
He can do whatever he like for remaining days

[posternat]

It seems like they are doing something to try to break a consistent value to the price of a commodity. Since Bitcoin is considered a commodity, there needs to actually be a reason for its value besides the sheer fact of what someone is willing to pay for it. The trying to bring it into the markets that there's no comparison value and at least there's some sort of foundation under that value. This is a nice move to again stabilize the higher price of bitcoins.

[player514]

JP Morgan, the global banking giant, has bought 19,102 bitcoin shares in the Swedish Nasdaq traded bitcoin ETN, translating to around 95 bitcoins, worth some half a million dollars.

They also sold around 9,000 shares, translating to some 40 bitcoins, seemingly keeping the rest, at least for now, according to data provided by the ETN.

http://www.trustnodes.com/2017/09/16/jp-morgan-buys-bitcoin-price-rises-20

How funny is that? The CEO of JP Morgan goes on an interview and says Bitcoin is a fraud and everyone trading Bitcoin on JP Morgan is an idiot and will be fired.

Price crashes and hours later the buy a lot of BTC.

Looks like panic sellers got played out by the whales again.

I saw this and isn't it possible that one of their clients wanted to put money into bitcoin? Are we sure that JP Morgan themselves put this buy order or do we know if this was for some customer who potentially had a lot of money to dump into BTC?

I think it's also a tactic that the CEO used to get the BTC price lower to buy.

[Hydrogen]

I don't mind what Jamie Dimon did.

Yes, they manipulate the market to decrease the price.

But they also manipulate the market to raise prices higher.

The main concern is whether Jamie Dimon and the chinese announcement coincided to put pressure on bitcoin devs in order to force them to accept bizarre conditions of the november fork such as the lack of replay.

Future fork conditions are a bigger threat than market manipulation, in my opinion.

[_Dawid_]

Guys, It doesn't work this way...
JP Morgan is just a brand which allows common(rich players) trade on the Sweden Stock Exchange.So CEO of the JP Morgan could be related to that operations, but for sure these operations are made by traders who use JP Morgan as entry. Maybe they did what he said, no one knows.

[DuaLipa]

Nothing surprised me here with this news, companies like them always make negative news on the market and then buy from the dip. Then they maximize their profits. Good method frankly.

[Pab]

Bitcoin didnt crash after Dimon statment and JP is not buying btc however wall street traders make huge money on crypto market after houres

[BenOnceAgain]

Well well well... looks like European regulators are looking into possible market manipulation: http://www.zerohedge.com/news/2017-09-21/jamie-dimon-faces-market-abuse-claim-over-false-misleading-bitcoin-comments

This is a good quote from the story:

"Jamie Dimon's public assertions did not only affect the reputation of bitcoin, they harmed the interests of some of his own clients and many young businesses that are working hard to create a better financial system,” said Florian Schweitzer, managing partner at Blockswater.