J.P. Morgan Thinks the Big Crypto Rally Is Overdone

[famososMuertos]

Well, since when?, the star JP Morgan  loves you and is your source for decision making,  
Are they not one of the main protagonists of "oh shiT... they did it again..."

Unfortunately they always want to be seen as the status quo, given that pitifully there are no relevant institutions, which there are, but their impact is in our sector, not in the traditional one.

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[dothebeats]

They've been guesstimating a lot of bitcoin's price movements for years and didn't get one single thing right. They'll just share their insights long after the coast is clear and everything has laid itself bare. Most of these big banks laughing at crypto after it has flunked are not really gaining anything from what they're doing. They're just making themselves look the fool thinking that they look smart on their part.

Anything that J.P. Morgan puts out regarding bitcoin and crypto up to this point is not really something that is worthy of attention. They have the money and they have the investments, but they don't have any credibility when it comes to cryptocurrency.

[PrivacyG]

always remember...

when influencers want to sell they try to excite others to want to buy.. so they can sell higher
when influencers want to buy they try to depress others to want to sell.. so they can buy lower

It almost feels like J P Morgan is afraid they missed the recent Bitcoin train and forgot to buy Bitcoin low so they try to depress.  Obviously they are not writing these articles to make any of us rich but themselves.

[AprilioMP]

After a small correction which was seen by everyone who knows how Bitcoin works, the analyst at the top company like J.P. Morgan thinks the Crypto Rally, especially Bitcoin is done.
How can they be so bad at their profession? I don't have a finance degree and I was able to call the $26k to $40k to $30k like two months before it all happened.

What do you all think about this?

The title of this article is nothing more than to attract visitors' reading interest. I'm not interested in subscribing by paying 50¢ per Week to continue reading.

JP Morgan, which I know is a large company in the financial sector originating from America. I don't know exactly how they analyze the market but I have a hunch that big companies like JP Morgan have a strategy of exploiting all their capabilities to make profits like a general strategy that is often used by other companies by making statements that tempt people to sell when prices are cheap and they will buy it in large quantities. I found another article that has something to do with the pattern I mentioned.
They called Bitcoin a 'fraud', then JP Morgan bought on the dip[1].

JP Morgan considers the big rally to be too much of a business strategy to play.
It is normal for them and other companies to think so because they have business goals. Once things change from an upturn to a downturn, that's where the opportunity lies for them.

[1]. https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

[pixie85]

Looks like JP took a chance with this prediction trying to slow down bitcoin and bitcoin showed JP the middle finger. Not literally of course.

Banksters are getting desperate watching bitcoin do its thing. I bet their trading desk went short before the article was published. I hope it was a leveraged short that just got liquidated.
No love for banks here.

News like that matter only to traders. If you're the average Joe who DCA, or you're a long time hodler who saw 16k and below, you don't care. So who are they trying to scare away? Institutions don't read JP reports.

[AmoreJaz]

Looks like JP took a chance with this prediction trying to slow down bitcoin and bitcoin showed JP the middle finger. Not literally of course.

Banksters are getting desperate watching bitcoin do its thing. I bet their trading desk went short before the article was published. I hope it was a leveraged short that just got liquidated.
No love for banks here.

News like that matter only to traders. If you're the average Joe who DCA, or you're a long time hodler who saw 16k and below, you don't care. So who are they trying to scare away? Institutions don't read JP reports.

maybe, they just want to create some fud to big stakeholders or big companies but i don't think they have such influence to those big ones because they have their own assessments on this market.

[serjent05]

It looks like JP Morgan company is planning to accumulate Bitcoin at a lower price.  This is the probable reason of the released statement of JP Morgan and nothing else.  If he dislikes Bitcoin he can just say it once or twice, but keep on repeating it make him looks like ...

Anyway, I never trust any analyst's statement without verifying it with my own research.  Analysts are here to make predictions. whether they are spot on or not is out of their concern, what matters to them is to make a comment about the recent financial movement of the market.

JP morgan's predictions had been shamed by Bitcoin many times, I though he is out of the picture because it was too long when I last hear of him saying things about the Bitcoin market.  I missed the hate somehow, lol.

maybe, they just want to create some fud to big stakeholders or big companies but i don't think they have such influence to those big ones because they have their own assessments on this market.

That is what I am thinking.  They wanted to make a last price pull before the halving and Bitcoin bull market commence.

[sunsilk]

We shouldn't take anything that JP Morgan says or anyone that has a huge influence in the financial market seriously.

Whatever they say are for their own gain and look, after what he said. Boom, Bitcoin is back to $37k and that's what overdone is for? It's not even starting yet for the best that it can push through.

But whether we like it or not, expect more of these articles from paid publish medias because they'd do anything to make everyone's feeling down to sell your Bitcoins to them cheaply.

[JoyMarsha]

If all the crypto analyst's statements about bitcoin were accurate, I would have told myself to start worrying about what J.P. Morgan has already said about bitcoin. However, based on what I heard from numerous crypto analysts, none of them have accurately speculated about Bitcoin; instead, they've made incorrect projections of it.

At times I see crypto analyst words like words that have no value in the crypto space. people no longer adhere to or believe what they say because what they say doesn't make the bitcoin price bubble or price decline.

[tranthidung]

After a small correction which was seen by everyone who knows how Bitcoin works, the analyst at the top company like J.P. Morgan thinks the Crypto Rally, especially Bitcoin is done.

I believe you knew about that well so following information is not helpful for you but I share it as it is helpful for newbies who don't know about historic attack of Jamie Dimon and JP. Morgan against Bitcoin.

JP Morgan's Dimon says "Bitcoin is a fraud (2017).
JP Morgan's Dimon blasts Bitcoin as 'worthless', due for regulation (2021).
JPMorgan to give all wealth clients access to crypto funds - Business Insider (2021).

Do take words from JM Morgan's Dimon seriously!

[Husires]

JP Morgan's positions have changed in recent years, as they were repeating that Bitcoin is a scam in the year 2017, and in 2021 the matter changed to 'worthless' and finally they started saying Bitcoin Is Undervalued By 28%, and today they say Crypto Rally Is Overdone. It is an opinion that differs according to the different time periods, even if it takes effect. Regarding the price, you will find that in 2017 the price increased and in 2021 the opposite happened when they said Undervalued in 2022 when the price decreased.

https://www.cnbc.com/2021/10/11/jpmorgan-chase-ceo-jamie-dimon-says-bitcoin-is-worthless.html
https://www.forbes.com/sites/ninabambysheva/2022/05/25/jpmorgan-says-bitcoin-is-undervalued-by-28-says-cryptocurrencies-are-now-its-preferred-alternative-asset/
https://www.theguardian.com/technology/2017/sep/13/bitcoin-fraud-jp-morgan-cryptocurrency-drug-dealers

When they say one thing, do the opposite.

[Poker Player]

Good. Who gives a fuck what JP Morgan says anymore. We are not their target audience, they speak for people who don't know bitcoin well. After so much flip-flopping, as Husires comments, one can't be too surprised by what they might say anymore, and it certainly doesn't influence my investment strategy in the slightest.

[thecodebear]

That's literally the same thing they say every time. There is no analysis in their statements, because their statements are always based on the same incorrect assumption: that Bitcoin will ultimately fail and fall to zero because it has no value or use.


There is no reason even discussing stuff said by people like this. Their only goal is to try to convince people to sell their Bitcoin. No matter how many times they are wrong, and no matter how much bitcoin goes up over the years as they make this claim over and over and over again, they will keep making the claim, until they get replaced by younger more agile thinkers who understand why the world wants such a revolutionary form of money.

[yhiaali3]

Are you sure he is an "analyst at a major company"? I doubt he knows anything about analysis, there is no need for you to answer him because Bitcoin has just done so and quickly returned to above 37K$ as we see now.

I think that this talk has nothing to do with technical analysis, but rather it has to do with the policy of getting closer to governments. These large banks are very interested in getting closer to governments, so they shout against Bitcoin to gain the favor of the American government, as they know that it is hostile to Bitcoin.

[avikz]

After a small correction which was seen by everyone who knows how Bitcoin works, the analyst at the top company like J.P. Morgan thinks the Crypto Rally, especially Bitcoin is done.
How can they be so bad at their profession? I don't have a finance degree and I was able to call the $26k to $40k to $30k like two months before it all happened.

What do you all think about this?

I do not think anything when something comes from the analysts of JPM. They are following the footsteps of Jamie Dimon who is a known hater of Bitcoin. Jamie has tried to spread negative sentiment about Bitcoin multiple times in the past. Now he is trying to do it through their analyst team. But the funny part is that, the crypto market has stopped responding to whatever they say.

So I will suggest to stop thinking about it. JMP is expected to deliver negative analysis and negative statement about Bitcoin as it is their agenda. But as a sensible person, we should stop talking about those negative things. Chill and invest!  

[Lucius]

Good. Who gives a fuck what JP Morgan says anymore. We are not their target audience, they speak for people who don't know bitcoin well. After so much flip-flopping, as Husires comments, one can't be too surprised by what they might say anymore, and it certainly doesn't influence my investment strategy in the slightest.

Some who apparently still think that such institutions are crucial to Bitcoin in any sense. Unfortunately, the world is full of such people who make their life decisions based on what some JPM analyst said or what people like Buffett and others like him think about Bitcoin. Apart from that, I guess we have convinced ourselves countless times that various so-called journalists are nothing more than ordinary mercenaries who write at the behest of those who pay them to do so.

All those who listened to various Buffetts and Dimons in the past are sure to regret it today when they see that Bitcoin is not a mirage or a rat poison squared.

[kryptqnick]

After a small correction which was seen by everyone who knows how Bitcoin works, the analyst at the top company like J.P. Morgan thinks the Crypto Rally, especially Bitcoin is done.
How can they be so bad at their profession? I don't have a finance degree and I was able to call the $26k to $40k to $30k like two months before it all happened.

What do you all think about this?

I think it's more about integrity than professionalism. You're assuming that they sincerely believe that Bitcoin rally is done and are providing their reasons, which is why you're questioning their competence. I think they have enough education and experience to know that what they're saying is unfair, but they say it anyway because they lack integrity. The article itself is, unfortunately, under a paywall, but I've seen similar ones written by people working for highly reputable companies, published by highly reputable media outlets. I think they publish what they feel will get them views because views translate into money. An article "it's just a correction, nothing serious" doesn't incite strong feelings and isn't likely to gain attention, unlike articles that make provocative claims.

[Quidat]

Most of these "analysts" are fossils — I don't think they can even grasp the concept of why bitcoin has 'value'.

But yea, even if from a trading perspective, you really can't expect every single person to have the same price predictions; someone has to be wrong, someone has to be right.

Neither going up or down, whether it do pumps or dumps. There would really be just only two possible path or way that it would really be able to take and its true that each one of us
does have their own particular taking or say about on the price and there would be no indeed right or wrong on which we do have that freedom on what we would gonna say.
These banks,instutions, billionaires or fiat lovers would really be always have something to say. Yes, it do really sucks on hearing out those words
but we know that this market would really be that less exciting if there would really be no contradiction. 

[hyudien]

What do you all think about this?

It is too early to say that the Bitcoin rally is over. It's actually still in its early stages. Bitcoin upward impact will continue, it's just a matter of time and we can see it for ourselves in 2024. JP Morgan may be trying to stop Bitcoin users optimism and hope they abandon it. However, the more he emphasizes the downside the more everyone realizes how important Bitcoin ownership is right now. I think it's fair to support opinions in the midst of an imminent drop in value to create negative speculation and take advantage of people offloading Bitcoin at a cheap price.

[Youngkhngdiddy]

It is too early to say that the Bitcoin rally is over. It's actually still in its early stages. Bitcoin upward impact will continue, it's just a matter of time and we can see it for ourselves in 2024. JP Morgan may be trying to stop Bitcoin users optimism and hope they abandon it. However, the more he emphasizes the downside the more everyone realizes how important Bitcoin ownership is right now. I think it's fair to support opinions in the midst of an imminent drop in value to create negative speculation and take advantage of people offloading Bitcoin at a cheap price.

 The crypto system is an existential threat to nation state currency as well as to the fractional reserve banking system and to their enablers. It is incompatible with fractional reserve banking. The crypto system is based on a transparent record of truth, captured forever in a giant record book, and on value that exists today. The fractional reserve banking system is intrinsically dishonest: bankers will tell you that your money is both safely in the bank and, at the same time, they are lending it out to others. They will tell you that it is your money while, legally, it belongs to the bank and they can do what they want with it.
   Only one of these two systems can survive. They cannot co-exist together in the long-term. They are not going to be best friends, give each other warm hugs, and talk about a win-win paradigm. Their values are completely contradictory. Expect the banks and their enablers to continue to be relentless and underhanded when attacking the crypto system. To be blunt: if the crypto system can link to the real economy and challenge the core banking of deposits and lending, it will replace fractional reserve banking in the next decade and benefit all crypto firms. If not, it will remain a niche movement.