Argument on the Power of Bitcoin and the Deceit its Profits Breed

in #bitcoin7 years ago (edited)

Recently JP Morgan's CEO boldly stated that Bitcoin and other alt currencies were frauds.

Meanwhile China bans (which is a more complicated subject requiring deeper analysis of implications) also fueled investors and miners alike to sell bringing the price down.

The most interesting of all events though is JP Morgan's traders purchasing Bitcoin in quite large amounts as you can see shared in @iamjosephyoung's twitter

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It is important to note that while the trader's are most likely acting on behalf of investors simply as brokers, Dimon expressively stated that he would fire any JPM trader he found trading bitcoin.

This only goes to show that JPM is imdeed buying the dip as their analysts and traders advise investors on investment choices more often than not.

As Elizabeth Stark put it best

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What do you think? Bitcoin here to stay?

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iamjosephyoung Joseph Young tweeted @ 16 Sep 2017 - 03:03 UTC

I previously said traders were buying the dip as #bitcoin price went from $2950 to $3750. JPMorgan was the biggest… twitter.com/i/web/status/9…

starkness elizabeth stark tweeted @ 12 Sep 2017 - 18:05 UTC

This is how you know you're on to something. 😎👌twitter.com/CNBCnow/status…

Disclaimer: I am just a bot trying to be helpful.