China, JP Morgan, etc. classic strategy on bitcoin

[endaiin]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

[grermezter]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

We can thank the newbie investors for their impatient for this , when they see the value going down, they are so quick to start selling since they don't want to make any loss at all, I am sure pissed by the strategy these two have undertaken so that they can get bitcoins at a cheaper price, Even Russia is gearing up into the bitcoin economy so we all know that it's not going to die.

[Dhaaaw]

I partially agree with you OP, Infact i saw today that JPMorgan was yesterday's biggest bitcoin buyer after he trashtalked it so much. But the China thing is not true, Bitcoin is legal in China you just need a proper license to launch an ICO that's all it's the newbies speculations on what China did that made all this mess...

[Sled]

We need to get used to this kind of strategy. It is so easy to do that strategy to make a false alarm on bitcoin because they got the power and they can influence people or the bitcoin user easily because bitcoin is so vulnerable into the effect of the news so if something says bad thoughts in bitcoin then it is automatically will make bitcoin dump but we can take advantage of that by buying the dumps and selling when the price goes up again.

[nicster551]

We need to get used to this kind of strategy. It is so easy to do that strategy to make a false alarm on bitcoin because they got the power and they can influence people or the bitcoin user easily because bitcoin is so vulnerable into the effect of the news so if something says bad thoughts in bitcoin then it is automatically will make bitcoin dump but we can take advantage of that by buying the dumps and selling when the price goes up again.

Yes I agree with you that it is easy to trigger the price of bitcoin if there is a news that pointed bitcoin and also they have a big influence at the market. Most of the news have an effect in bitcoin price that can cause panic to some people and advantage to those creators of news because they can easily buy at the dip price.

[randythered]

We need to get used to this kind of strategy. It is so easy to do that strategy to make a false alarm on bitcoin because they got the power and they can influence people or the bitcoin user easily because bitcoin is so vulnerable into the effect of the news so if something says bad thoughts in bitcoin then it is automatically will make bitcoin dump but we can take advantage of that by buying the dumps and selling when the price goes up again.

Yes I agree with you that it is easy to trigger the price of bitcoin if there is a news that pointed bitcoin and also they have a big influence at the market. Most of the news have an effect in bitcoin price that can cause panic to some people and advantage to those creators of news because they can easily buy at the dip price.

For now this is true, but I believe it will become less and less of a trend as time passes. If bitcoin is to persist into the future then this will happen time and time again and soon people will start to wise up to it and it won't be such an effective strategy. If bitcoin lasts the test of time then it is inevitable that the price will begin to stabilise.

[alani123]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

I don't think that JP Morgan has much to gain from such activities. Crypto markets are unprotected from manipulation but JP has a lot more to lose from even attempting to manipulate such an esoteric market as bitcoin in my opinion.

[kimochidesh]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

In past also, Big financial concerns always tried to manipulate the economy for their own benefits. Yesterday, JP Morgan seems to be the biggest buyer of Bitcoin after its crash. New Investors who do not understand Crypto-market got panic and start selling vigorously. I think this incident will definitely strengthen the Bitcoin in the long run as investors also understand that such news can only affect Crypto-market for only a few days.

[omonuyak]

That is  The reason new traders should learn how bitcoin trading work before risk  their hard earnings capital. Chinese governments have been using this to control bitcoin pricing in other not to push they financial system into inflation. Jp Morgan are into business and the only way they makes money is through financial system  secret that they have been using again people and investment and saving institutions. Price manipulations will continue and we would be wise by knowing they secret of how they used medias to create both panic and confident on bitcoin.

[Simple_Man]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

Yes, the same though came in my mind as well. Not sure about China but JPM can surely do it. Initially the CEO Jamie declares that bitcoin is a fraud and they bought bitcoin at a very lower price to make instant profits. This is very much possible.

However, did China make any announcement about legalizing bitcoin yet? I don't think so, but Japan has made a remarkable progress by providing a license to CoinCheck exchange. That's a good new for bitcoin for sure.

[hatshepsut93]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

This sounds quite like some conspiracy theory and in real life it's a bit more complicated than that. For example, governments like China and Banks like JP Morgan operate with billions of dollars, so it doesn't make much sense for them to manipulate smaller market, since it's not that much profitable. Also, if someone will find out they are involved in Bitcoin directly, it may hurt their business/economy, since many people think about Bitcoin as a hedge against fiat. But it's certain that information about exchange closure has leaked to some traders before it was announced publicly, so some traders where able to profit from shorting Bitcoin. But with Bitcoin anything is possible, may governments and banks already own some significant sums just to be ready in case it will become global currency.

[Granxis]

I do not look at conspiracy theories warmly, because conspiracy theories always need to be skeptical, and I think that such negative events are normal, some negative events are necessary.

[jekjekman]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

Who said Bitcoin is illegal? I think Jamie Dimon said 'Bitcoin is a fraud' and China was said they will be banning ICO's and Bitcoin Exchanges in their country. No one said Bitcoin is illegal.

I am agreeing with you when it comes to a business strategy though as this Jamie Dimon guy is really a stupid one as he only says what he wants to say about bitcoin because he have a hidden plan that will benefited his own company, he just go with the flow with these China's issue regarding ICO's and he said this bad words about Bitcoin to impacts its price.

[Golftech]

Its like playing boxing while your hands was fully tied, this strategy coming from big whales really works well they buy the news start crashing the market and let the panic holders to feel uncomfortable and sell their holdings while those whales who had this coins from the very beginning will just dumped and pumped to earned much more, we need now to be more observers.

[maku]

Who said Bitcoin is illegal? I think Jamie Dimon said 'Bitcoin is a fraud' and China was said they will be banning ICO's and Bitcoin Exchanges in their country. No one said Bitcoin is illegal.

I am agreeing with you when it comes to a business strategy though as this Jamie Dimon guy is really a stupid one as he only says what he wants to say about bitcoin because he have a hidden plan that will benefited his own company, he just go with the flow with these China's issue regarding ICO's and he said this bad words about Bitcoin to impacts its price.

Then why they are banning bitcoin trading? It is like indirectly saying that bitcoin is not something 100% legit.
If it was fine then banning anything surrounding Bitcoin (ICOs, exchanges) wouldn't be needed.
The trading ban will make the situation of miners/traders/normal users much harder in China all because the Chinese government is afraid of the crypto revolution.

[Nameless27]

I even forget about my mother's name for i have heard JP Morgan and China thread again and again. But I have to admit, I like reading it especially about the strong words being posted by our fellow bitcoin users and forum members about those two. It is full of hatred and sarcasm. J.P. Morgan and china let's put them on graveyard as we are now recovering from an overrated declaration of two unworthy of attention.

[orions.belt19]

China and JP Morgan just playing classic strategy on bitcoin.
Now they announcement bitcoin illegal, when price down because panic attack they buy bitcoin, and then they will create new announcement that bitcoin is legal... and kind of that. so bitcoin price up again, and they wealth is higher more than before.

lol... Classic business strategy.

This sounds quite like some conspiracy theory and in real life it's a bit more complicated than that. For example, governments like China and Banks like JP Morgan operate with billions of dollars, so it doesn't make much sense for them to manipulate smaller market, since it's not that much profitable. Also, if someone will find out they are involved in Bitcoin directly, it may hurt their business/economy, since many people think about Bitcoin as a hedge against fiat. But it's certain that information about exchange closure has leaked to some traders before it was announced publicly, so some traders where able to profit from shorting Bitcoin. But with Bitcoin anything is possible, may governments and banks already own some significant sums just to be ready in case it will become global currency.

I think so too because I big companies such as JP Morgan are far from doing such things just to manipulate the market and creating such as statement would reflect their view on crypto and Bitcoin as a company. Creating such a statement would affect their investors and I don't think making such a bold move was just so that the bitcoin price would go down, and the same goes with the China government.

However, the creation of conspiracy theories such as this are not far from true. The various false news that were spreading back then had created fear and made the others sell their coins. We shouldn't be butt hurt whenever bad news such as these continue to pop up because others will continue to say bad things about Bitcoin, whether they want to control the market or not. We just have to continue to become faithful and resilient as bitcoin users.

[jekjekman]

Who said Bitcoin is illegal? I think Jamie Dimon said 'Bitcoin is a fraud' and China was said they will be banning ICO's and Bitcoin Exchanges in their country. No one said Bitcoin is illegal.

I am agreeing with you when it comes to a business strategy though as this Jamie Dimon guy is really a stupid one as he only says what he wants to say about bitcoin because he have a hidden plan that will benefited his own company, he just go with the flow with these China's issue regarding ICO's and he said this bad words about Bitcoin to impacts its price.

Then why they are banning bitcoin trading? It is like indirectly saying that bitcoin is not something 100% legit.
If it was fine then banning anything surrounding Bitcoin (ICOs, exchanges) wouldn't be needed.
The trading ban will make the situation of miners/traders/normal users much harder in China all because the Chinese government is afraid of the crypto revolution.

For me they are banning bitcoin ICO's, exchanges and other form of it because there are huge amount of yuan money is circulating all around their country because of this cryptocurrencies and the government of China is making a move to go in also, who knows what is the government's intentions but what I feel is they want to put a tax on it.

You know and I know that people of China who uses Bitcoin and other cryptocurrencies can still uses it even after the total ban, there is always a way. All government for me is a true regulators and if they don't want something they will make a way to fight it until they'll kill it.

[CoinsCoinsEverywhere]

We need to get used to this kind of strategy. It is so easy to do that strategy to make a false alarm on bitcoin because they got the power and they can influence people or the bitcoin user easily because bitcoin is so vulnerable into the effect of the news so if something says bad thoughts in bitcoin then it is automatically will make bitcoin dump but we can take advantage of that by buying the dumps and selling when the price goes up again.

Yes I agree with you that it is easy to trigger the price of bitcoin if there is a news that pointed bitcoin and also they have a big influence at the market. Most of the news have an effect in bitcoin price that can cause panic to some people and advantage to those creators of news because they can easily buy at the dip price.

For now this is true, but I believe it will become less and less of a trend as time passes. If bitcoin is to persist into the future then this will happen time and time again and soon people will start to wise up to it and it won't be such an effective strategy. If bitcoin lasts the test of time then it is inevitable that the price will begin to stabilise.

I wouldn't bet on that.  Bitcoin is several years old now, and important news, whether it's been true or not, has always caused major price swings.  I don't see that trend changing anytime soon, if ever.  If you look at the global financial markets (stocks, bonds, commodities, etc.), they are sometimes affected the same way be important news.  The markets are of course larger and more mature, so the swings aren't as large in percentage terms.  But sometimes you see things like oil swing 3-5% in a single day.  Considering how big the oil market is, that's huge.

[Beerwizzard]

Since the first days of bitcoin it was attacked (sometimes even by very reputable and smart people) and called a fake currency but we all see that it is pretty resilent to those things. So what is the difference of JP Morgan's news from the previous ones?