It wasn’t that long ago that you saw this…“Jamie Dimon Slams Bitcoin as a Fraud”
As soon as this hit the news wire I had a feeling that Dimon was attempting to pull one of his weasel banker moves that banks pull daily througout the financial markets. See this is how it works. Banks funnel news in order to set up the actual move of the direction of the asset (which they know many times based on the inside sources and collaboration with other banks). In this case here is how it played…
- Bitcoin had left the station “at the time” and was trading above $4000.
- Dimon calls it a fraud and it tanks 25+% in two days…and guess who was buying?
- Ding Ding, Jamie Dimon and Co. were the largest buyer of bitcoin over the next 48 hours
- Bitcoin rises to $19000.
What is comical about this situation is that he later came out and apologized (after JPM made more gains than they ever could in “real” financial markets) for doing this. I said it from the start that this was a play to get them in and in 2018 the BANKS were buying bitcoin the WHOLE year I am betting. Banks need to get in on this space and there are only 21 million of these suckers. JPM has now COMPLETELY backtracked on it’s fraud accusation with this mornings news…The JPM COIN!
You read that right folks, JPM is rolling out their OWN cryptocurrency. Quite the swing in their stance on cryptocurrency if you ask me. Crypto is going nowhere. LONG.