Well who looks like a fool now? Jamie Dimon is eating his words. He should be dismissed as CEO, the company and the clients are in the opposite side of the spectrum. Bitcoin cannot be stop and even Wall Street are noticing it. And there is another guy dismissing bitcoin, Jordan Belfort the so called Wall of Street, both of them have fraudulent past so it you are going to deduce what they have been saying all along, you have to be very skeptics and take everything with a grain of salt. Just a matter of time that those bankers and big traders will shift to bitcoin market because of the growing interest in it.
You seriously think that Jamie Dimon was fool?
Those panic sellers were fool who took Jamie's speech seriously. He was rather smart enough to manipulate the market with a single speech and his company reaped the benefits. On the very next day of his calling Bitcoin a fraud, JPMorgan was the largest buyer of Bitcoin. These bankers are way too good at these things. Moreover, there is a collective interest of Wall Street bankers on Bitcoin be it Morgan Stanley or Goldman Sachs. They all want to enter the amateur market of cryptocurrencies and have a dominance in early stage.
That's right, whoever fallen into Dimon words were fooled, but he just got lucky due to his statement coincide with China banned news which spread widely and influence many users to sold bitcoin. Anything he said after bitcoin recover over $4000 mean nothing, people won't deceived twice.
It's funny as Dimon words contradict with his act, called bitcoin a fraud but JPMorgan is citing bitcoin prices right between wheat and treasuries.
Although JPMorgan and Goldman Sachs bankers could say anything to manipulate bitcoin price, but the most significant factor is; if Million of dollars from their pocket has been invested into bitcoin, just waiting for the right time to cash out, maybe when bitcoin hit $5000, then people will follow to sell-off, which cause bitcoin price corrected.
