Chase Bank CEO Jamie Dimon lately discriminated Bitcoin as a ‘fraud,” probable causing extra sell offs after the news of the Chinese exchange ban was out. The financial guru commented that Bitcoin was in a bubble not unlike the famous Tulip bubble during the 17th century.
##However, in a rather extraordinary move, JP Morgan purchased a significant obstruct of Bitcoins just after the CEO’s harsh criticisms, according to a shrewd observer on Twitter.
The user 'I am Nomad’ posted the tweet including a screen shot of the BTC chart with the JP Morgan Chase purchase circled.
There has been some coments by industry insiders that the big banks have a vested interest in seeing Bitcoin fail, even while they are seeking to join the upswing in potential profits. Chase bank is no different, apparently, based on the information which has recently come to the lime light.
###It is clear from all indications that it was a deliberate attempt by Jamie Dimon to enable people to sell off their Bitcoin to facilitate the price of Bitcoin to reduce so that he can buy as much as he can.
Yesterday, Bitcoin has reduced drastically as low as $2,973 after the Chinese exchange ban which lead to major sell offs. Adding more fuel to the fire, Jamie Dimon describe Bitcoin as fraud and went further to say Bitcoin is tulip bulb, concluded that It won’t end well. Someone is going to get killed.
Due to the massive influence Bitcoin is have having on other cryptos lead to drastic reduction in the price of other cryptos like ethereum, litecoin, ripple and other well known cryptos.
Growing mainstream economic acceptance of the cryptocurrency, including widespread increase in hedge funds and institutional investors would denote that the predictions of Jamie Dimon and other bears may not be sound. I stand for cryptos
Upvote, comment and resteem my post. Thanks.
Credit. cointelegraph.com
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Nice work...good to have a testimony so as to be a good witness...its all about steemit
Thanks bro. Appreciated
Great work
Thanks
Whatever Dimon says, action speaks louder than words. If JPM is long Bitcoin, shouldn't you?
They only want reduction in Bitcoin price so that they can also invest and have share in Bitcoin profit.
Thanks for sharing
We are watching Jamie Dimon and Co.
Please let's all of us resteem this post. Thanks
U hv a got of information about the crypto and that is really gud of u,of leting us know how things are going with bitcons.......keep giving us more
Thanks. I will keep the steemit community updated.
Brother well done. You need a lil more touch on your markdown.