Hard hit to the very volatile bitcoin, thanks to the panic unfounded by Jamie Dimon, the CEO of JP Morgan added to the measures of canceling the ICOs of China and some exchange houses.

“It is a “fraud”, the JP Morgan CEO, Jamie Dimon, said this week. “It’s worse than tulip bulbs … it will be the emperor with no clothes”. He was talking about the internet cash system bitcoin.

It will eventually “blow up”, he said, it’s not a “real thing”. “It will be closed.” Any JP Morgan trader caught buying or selling bitcoins will be “fired in a second” – for “being stupid”, he added.” source: theguardian.com

The faith of the investors on the virtual currencies is not so solid after all, the drastic fall was that many believed the lies of Dimon, we need to believe more strongly in the technology, in the future and in the renovation of the bank, although many find it hard to believe that the bank is obsolete and deteriorated old lending itself to infractions and bubbles for the benefit of large corporations.

Dimot struck drastically with a very clear end, instilling a fear of volatile investors, he succeeded but why did he do so after China inserted the dagger of doubt into the world of crypto currencies?

It is circulating some data in the networks where they reveal alarming data of purchase of bitcoin by means of the bank and more specific JP Morgan. This is warning us that the traditional orthodox banking continues to put its tentacles in the new technological economy.



Currently there is no official response from JP Morgan or those who will be fired for buying bitcoins as Dimon suggested, what if it is true is that faith and trust about bitcoin is volatile and if we check the efficiency and the number of companies that are entering the world of Blockchain, we should be stronger because we bet on the future, technology, and more than anything to decentralize to break with the monopoly of banks.

This activity of being true should alert the authorities to manipulate digital markets and currencies. Not that I do not have clear is that if there is a law to punish this activity worldwide, since trading is nourished by manipulation and speculation.



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1 Comment

Is JP Morgan playing dirty in the cryptocurrency market? | · September 16, 2017 at 8:51 am

[…] Source: Is JP Morgan playing dirty in the cryptocurrency market? […]

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