The price of bitcoin jumped from $3000 to $3900 in just a matter of hours on GDAX.
Soon the Chinese government will have a provisional change of heart and Jamie Dimon will embrace bitcoin, claiming his investors demanded it, while joking that his daughter, whom he admits holds bitcoin, was a genius after all.
Think about it folks, if you had a close family member with an investment in some asset and you had a huge influence in the markets, why would you trash talk that asset in the media and ruin the value of their holding? Unless you were playing a deeper game.
This major FUD storm has been a clever play right from the start. Like many people who were caught off guard by this year's stratospheric rise in bitcoin's value, the global 1% sought to "roll back time" so they could get a second chance at scooping up a horde of bitcoin for themselves at cheap prices. What better way to accomplish this than a one-two media punch of Chinese officials and JPMorgan both shitting on bitcoin in quick succession to drive prices down to a near 50% drop from its $5000 high?
This was all engineered by a global elite that schmooze, make back room deals and party at all the same exclusive golf clubs and swinger events together while they manipulate markets and spook the weak hands of the unwashed masses.
They'll all be singing the praises of bitcoin soon enough, now that they've vacuumed up a huge stash for themselves and their families. At least until enough time has passed and it again becomes profitable to spread more FUD to make a short play to the downside after bitcoin reaches new record highs.
It's all a game, folks.
