Bitcoin Is Still bad? JPMorgan Chase Traders Accused Of Market Manipulation

[SquallLeonhart]

Oh well, what do you expect from people behind JP Morgan, they made a noise about Bitcoin is 2017 saying nasty things and then manipulating the price in their favor. Now, we see what this company are made of, greedy, manipulators, I'm sure they can pay the fine. But I do hope that their investors would shift their funds to Bitcoin.

The company accused Bitcoin for market manipulation and they said a lot of things against Bitcoin, and later it was discovered that they are also investing in Bitcoin. As if that was not enough , they also created their own JP Morgan coin, so this is not a surprise. If they are accused of this, then it is true. These people can do just anything for money. Most of them that says rubbish about Bitcoin are the ones that are even doing something worse. Funny thing is that at the end you see them investing in the same asset they were bad mouthing.

Who can't remember that famous word from Jamie Dimon whom said that bitcoin is a fraud? Then things have turned suddenly and took his words because there were reports that him and his company silently collecting bitcoin.
bitcoin.

Lol, I remember that. People like to say what they don't know. They don't sit and take out time to research Bitcoin, rather they just jump out from nowhere to start calling it a scam. Well, I do understand that they all did that because Bitcoin is too volatile so they thought that it must have been a scam. But the mistake they made was that they didn't take their time to research about the coin. It would have been better if they stayed mute than trashing it publicly and doing the opposite in private.

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[1Referee]

They don't sit and take out time to research Bitcoin, rather they just jump out from nowhere to start calling it a scam. Well, I do understand that they all did that because Bitcoin is too volatile so they thought that it must have been a scam. But the mistake they made was that they didn't take their time to research about the coin. It would have been better if they stayed mute than trashing it publicly and doing the opposite in private.

Actually, they did do research. When Jamie Dimon called Bitcoin a fraud and threatened to fire every employee if they ended up dealing with Bitcoin, a European subsidiary of JPMorgan was one of the largest buyers of Bitcoin at that moment in time. These financial institutions know more about Bitcoin than most people here do, so don't underestimate them.

JPMorgan is known to manipulate markets not only through words by calling it shit or that something can't work, but by actually being active in that market. They're just trying to make people panic sell. Don't feed these whales. As always, don't look at what they say, but look at what they do; they're buying Bitcoin yet calling it a fraud. Makes sense right? 

[Mahanton]

They don't sit and take out time to research Bitcoin, rather they just jump out from nowhere to start calling it a scam. Well, I do understand that they all did that because Bitcoin is too volatile so they thought that it must have been a scam. But the mistake they made was that they didn't take their time to research about the coin. It would have been better if they stayed mute than trashing it publicly and doing the opposite in private.

Actually, they did do research. When Jamie Dimon called Bitcoin a fraud and threatened to fire every employee if they ended up dealing with Bitcoin, a European subsidiary of JPMorgan was one of the largest buyers of Bitcoin at that moment in time. These financial institutions know more about Bitcoin than most people here do, so don't underestimate them.

JPMorgan is known to manipulate markets not only through words by calling it shit or that something can't work, but by actually being active in that market. They're just trying to make people panic sell. Don't feed these whales. As always, don't look at what they say, but look at what they do; they're buying Bitcoin yet calling it a fraud. Makes sense right? 

Casual thing on making up some FUDs just for them to have the opportunity to buy up cheaper coins.I agree that they are more knowledgeable than on most people
and its a dumb thing to think on that they arent that lowkeys not to make any research on anything that they do interest or attack in.Usually these kind of big institutions/companies/investors/whales etc. would always act oppositely on what they are trying to do.They wont obviously praise out bitcoin and they do accumulate as much as they can.
Main priority here is to make profits on having an entry as lowest price as possible.They arent really that numb nor too  careless yet these fellas are way too wise and tricky when it comes to making money.

[Betwrong]

They don't sit and take out time to research Bitcoin, rather they just jump out from nowhere to start calling it a scam. Well, I do understand that they all did that because Bitcoin is too volatile so they thought that it must have been a scam. But the mistake they made was that they didn't take their time to research about the coin. It would have been better if they stayed mute than trashing it publicly and doing the opposite in private.

Actually, they did do research. When Jamie Dimon called Bitcoin a fraud and threatened to fire every employee if they ended up dealing with Bitcoin, a European subsidiary of JPMorgan was one of the largest buyers of Bitcoin at that moment in time. These financial institutions know more about Bitcoin than most people here do, so don't underestimate them.

JPMorgan is known to manipulate markets not only through words by calling it shit or that something can't work, but by actually being active in that market. They're just trying to make people panic sell. Don't feed these whales. As always, don't look at what they say, but look at what they do; they're buying Bitcoin yet calling it a fraud. Makes sense right? 

Yes, these people are definitely not stupid, and, indeed, they did their research. Stupid are those who believe them when they call something a fraud, a bubble or whatever to buy as much as they can at low price. There are manipulators and those who are manipulated. The former make big money, while the latter stay poor, believing what manipulators tell them to believe.

[MonsterV]

They don't sit and take out time to research Bitcoin, rather they just jump out from nowhere to start calling it a scam. Well, I do understand that they all did that because Bitcoin is too volatile so they thought that it must have been a scam. But the mistake they made was that they didn't take their time to research about the coin. It would have been better if they stayed mute than trashing it publicly and doing the opposite in private.

JPMorgan is known to manipulate markets not only through words by calling it shit or that something can't work, but by actually being active in that market. They're just trying to make people panic sell. Don't feed these whales. As always, don't look at what they say, but look at what they do; they're buying Bitcoin yet calling it a fraud. Makes sense right? 

I believe that JPMorgan is one of main players in this crypto market manipulation. They created panic everywhere to make price of bitcoin go down and then they bought it cheap. There have been many cases that have been blamed on JPMorgan, and among them are those as forex market manipulator before. And I'm sure, with their statement on bitcoin now, that is part of their second manipulation.

[fiulpro]

It's not just Bitcoins you should understand that ..
As long as it's profitable for them they are good but as soon as it goes down for them they start hating the market and it is actually the same for every investors to be honest.

This is how it goes for them.
People are going to be greedy so I don't think there is anything different from what was expected of them.

[bitbunnny]

I wonder how many times people have manipulated the crypto market as well? I mean here we are sitting on high horse talking about how financial Goliaths are doing this but we are here at small timers (180 billion market cap versus trillions of dollars in financial market) and we still have manipulation from the whales.

Sad part about it is that we do not have law enforcement on our side as well so people who did bad stuff at JPMorgan got jailed and found guilty but here in bitcoin world people who are wealthy and rich can do whatever they want and there is nothing that can stop them. The decentralized and unregulated approach of bitcoin does bring in amazing stuff but sometimes it does hurt itself as well, it is a price we have to pay but we should not point fingers to others in that case.

That is true, cryptocurrencies and crypto market isn't protected and regulated as classic financial system. But isn't that something that crypto users have chosen? Independency and decentralization and not to mention how many of them are actually against any kind of regulation.
On the other hand if Bitcoin and crypto are so decentralized and independent how come that such manipulation is even possible?

[Polo7]

Nothing Special about wall street and investment market manipulations!


Remember dotcom bubble? 

They bought Secretly b4 actual launch shares with cheaper price!



This is how it works

[btc_angela]

Nothing Special about wall street and investment market manipulations!


Remember dotcom bubble? 

They bought Secretly b4 actual launch shares with cheaper price!



This is how it works

At least this are proven facts that the greedy Wall Street big shot guys are market manipulators and will get their everything they can as long as there are more money to be made. I'm not sure about the dotcom bubble, but I remember the massive impact is has created on the market that time. However, it seems that new set of players are still practicing this old but very effective trick in the book. And people doesn't learn as well and that's why this trickers can do everything they can, at least they're caught, should we see some punishments here or are those greedy person can escape the hands of the law?

[Reid]

Correct.
What can we expect from those people with power.
Nothing actually.
They want more money they will take it by spreading FUD.
People should be the ones who will open their eyes from this kind of acts.

We are lucky though with our eyes already opened and we can see the truth behind it.

[magneto]

Oh well, what do you expect from people behind JP Morgan, they made a noise about Bitcoin is 2017 saying nasty things and then manipulating the price in their favor. Now, we see what this company are made of, greedy, manipulators, I'm sure they can pay the fine. But I do hope that their investors would shift their funds to Bitcoin.

JPMorgan is nothing but a group of opportunists.

They shifted their stance on bitcoin entirely, from initially being extremely negative and bearish on bitcoin (with Jamie Dimon coming out publicly and condemning bitcoin), and all of a sudden shifting their stance entirely to being bullish on bitcoin long term. The reversal of their opinion is completely arbitrary and unpredictable, and solely based on their own positions, which likely turned from being short on bitcoin to being long.

It wouldn't be surprising then that they are indeed manipulating the markets. After all, to meet their investors expectations, this is what they are expected to do, really.

I doubt that we can place the blame on a single actor alone though. Manipulation of financial markets is extremely widespread and not just limited to one corporation alone.

[audaciousbeing]

Bitcoin Is Still bad? JPMorgan Chase Traders Accused Of Market Manipulation, Again!

The U.S. Department of Justice has charged top managers at JPMorgan Chase of market manipulation, Reuters reports. For the better part of a decade, according to DoJ charges, traders Gregg Smith, Michael Nowak and Christopher Jordan allegedly manipulated prices of gold, silver, platinum and palladium futures on the New York and Chicago Mercantile Exchanges. JPMorgan Traders Accused Of Market Manipulation

The individuals under indictment hold high-profile roles at JPMorgan Chase & Co. Smith is an executive director and trader on the precious metals desk, while Nowak runs the entire desk as a managing director. Both are still employed at JPMorgan, though they were suspended in light of the indictment.

Jordan left JPMorgan in 2009 but continued to trade precious metals with in other firms.

The trio is accused of spoofing, a practice where the trader places bids to buy or sell contracts which are canceled before execution, allowing them to influence prices to their benefit. The scale involved was massive, with prosecutors alleging that they were conducting thousands of unlawful trading actions while layering orders in rapid succession.

https://thecoinrise.com/bitcoin-is-still-bad-jpmorgan-chase-traders-accused-of-market-manipulation-again/

Oh well, what do you expect from people behind JP Morgan, they made a noise about Bitcoin is 2017 saying nasty things and then manipulating the price in their favor. Now, we see what this company are made of, greedy, manipulators, I'm sure they can pay the fine. But I do hope that their investors would shift their funds to Bitcoin.

There are some takeaways from this extract of a news

1. This has shown a deficiency in the precious metal trading as it is clearly in display how metals that have been traded for years and probably more popular than some countries in modern day world could be manipulated by certain individuals and not in honor to be more than 2 people from their desk. This to me is a set back.

2. Another thing worthy of note is a market that is being regulated and there is some other eyes whose responsibility is just to watch. Nothing else. When you are caught, you will be made to face the music which irrespective of how high and mighty the position you occupy. This is a great development that needs to find its way into crypto at least to bring some level of sanity and make a statement that its no longer free for all.

The point to also note is to for one separate personal opinions from the corporate position in that even if JP Morgan is saying bitcoin is bad, it does not mean their people are not dealing with it. Its just a statement for them to look good in the eyes of those who might be watching.

[stadus]

These businessmen are just fooling us, they tend to tell us they are clean and bitcoin is a dirty money, a bubble, and etc, but now they are accused of market manipulation. They are bad, they are centralized so they can easily manipulate compared to the crypto space where even manipulation is happening, at least people know that and they can make the right decision to adjust their strategy.

Bitcoin is created to provide more transparency while the banks are against it as they cannot continue their dirty business, I'm sure more and more with this kind of news will be expose in the future.

[Betwrong]

~
JPMorgan is nothing but a group of opportunists.

They shifted their stance on bitcoin entirely, from initially being extremely negative and bearish on bitcoin (with Jamie Dimon coming out publicly and condemning bitcoin), and all of a sudden shifting their stance entirely to being bullish on bitcoin long term. The reversal of their opinion is completely arbitrary and unpredictable, and solely based on their own positions, which likely turned from being short on bitcoin to being long.

It wouldn't be surprising then that they are indeed manipulating the markets. After all, to meet their investors expectations, this is what they are expected to do, really.

I doubt that we can place the blame on a single actor alone though. Manipulation of financial markets is extremely widespread and not just limited to one corporation alone.

Yes, of course, it's not. There are many other manipulators on the market. The point of the OP is that big manipulations are not only happening on the crypto market alone. And this is very important because over the past years regular folks could get an impression that big manipulations happen only on the crypto market.

[b3llsf1l3s]

Anyone who tries or says that Bitcoin, Crypto, and Blockchain is fraud and the like actually they really want to enter this world, it's just that these people have been trapped in the mindset of competition with the traditional financial system before this bitcoin.

So they only have 2 choices, try to enter another cave that is not certain or keep digging in the same gold cave

[mazdafunsun]

This is nothing new, few years back I saw a movie on this stuff it was about some whistleblower who told the story how the market are manipulated and it was about spoofing.
Now lets think of BTC market. If these guys are doing this kind of stuff in this very heavily regulated market , then how easy is for big players to do the same in BTC markets.. it is happening all the time.

[Micerker]

I know there are a lot of people here who always feel Bitcoin is very bad, but I think it's great. In any portfolio, you risk and make you lose money when investing in it. Bitcoin has a higher level of risk than all Altcoins, but its profits are higher than all Altcoins. Give up cryptocurrency if you do not take the uncertainty it brings.

[el kaka22]

The sad thing about this is that maybe they are in bitcoin as well. Think about it this is untapped unregulated market for them and they must be having super fun with it, there is no government there is no nothing that can meddle with bitcoin, you may think there are laws in USA or some other country but these are the people who stashed their money in panama and when the panama papers came out and showed that ultra rich get away from paying taxes by putting all their money in panama only thing that happened was the journalist who figured it out got killed, all others who did the crime got away with it so it is quite easy that these people might be playing with bitcoin in millions of dollars every day in some shady third world country and get away with it.

[Betwrong]

The sad thing about this is that maybe they are in bitcoin as well. Think about it this is untapped unregulated market for them and they must be having super fun with it, there is no government there is no nothing that can meddle with bitcoin, you may think there are laws in USA or some other country but these are the people who stashed their money in panama and when the panama papers came out and showed that ultra rich get away from paying taxes by putting all their money in panama only thing that happened was the journalist who figured it out got killed, all others who did the crime got away with it so it is quite easy that these people might be playing with bitcoin in millions of dollars every day in some shady third world country and get away with it.

Yes, it's possible that they are the same people because for performing successful manipulations, one must possess three following qualities:  1. be rich; 2. be callous; 3. be experienced in market manipulations. I said "callous" because those people do not give a flying f**k about how their manipulations can affect others. I'm not judging them. Maybe it's not the worst quality to have in the world of business. I'm just stating the fact. No one knows how their actions affect their lives, if there's any effect at all. But I do agree with you that they can be the very same people.

[Harlot]

The news is pretty misleading especially the part when they connect it to the crypto industry. JP Morgan is charged in market manipulation alright but not the crypto market but the precious metals market which is totally a different industry which the crypto industry isn't even connected or somehow affected. I don't know why news sources like this one try to connect everything so that it makes it somehow relevant to what they are trying to show but the truth is they are never transparent of what they are saying and hid a lot of facts about the real news. Here is a more detailed news about the charge filed by the DOJ towards JP Morgan and you will know how different it is, there is not even one mention of the word crypto or Bitcoin in it.