[2020-10-26]First Mover: Bitcoin Steady Over $13K as JPMorgan Has Eureka! Moment

cr1776

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Quote from: jseverson on October 28, 2020, 03:05:58 AM

Quote from: cr1776 on October 27, 2020, 10:08:10 AM

I didn't know if we'd see JPM change their tune as long as Jamie Dimon was in charge, but it is definitely encouraging.

Dimon already backpedaled from his Bitcoin hostility way back in 2018, so this isn't really a surprise. They've been looking into crypto for a while.

Yeah, but I was speaking about when he initially said it. It is good they keep adding things. The more positives and users, the better.

Karartma1

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I can tell you this: when you have wealthy clients who knock on your door and ask:" Hey Jamie how about diversifying my portfolio with bitcoin?"
And the answer is " we do not have bitcoin products!"
those wealthy mfks will go and find themselves a way to invest in bitcoin. They are like rich kids: when they want a toy, they'll do everything to get it.
Let's not be naive here, bitcoin is becoming sexy, whether we like it or not and rich kids want to get some exposure to it.

I know this by experience as I have seen it directly. Wink

Bitcoin is not an optional asset anymore!

sunsilk

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Quote from: Harlot on October 28, 2020, 07:15:25 AM

JPMorgan has been saying no new negative comments against the crypto industry every since they created their own cryptocurrency and this just shows you that everything big companies and influential people are doing always comes with a motive that is why they are doing this.

Exactly. With each statement that they bring to the public, there's something always inside and hidden that will benefit them in the nearer future. They are becoming the newest crypto lover after that one influential guy for cryptocurrencies - McAfee was arrested and made his reputation bad in public.

IMHO, they are doing it correctly and smoothly. They are getting the crowd and the likes of it as they execute.

bbc.reporter

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@Harlot. Agreed. Similar to all of the financial crisis of the past that were caused by the banks' own doing, they will again create a another bubble, burst that bubble and be again bailed out by tax payers.

Harlot

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JPMorgan has been saying no new negative comments against the crypto industry every since they created their own cryptocurrency and this just shows you that everything big companies and influential people are doing always comes with a motive that is why they are doing this. However I believe their plans for the crypto industry doesn't stop with them creating their own crypto, since they are in the financial industry I expect them to be more involve in special kinds of crypto investments such as ETFs or maybe derivatives, this might just be a waiting game for them as they are just trying to make us forget that they have bad views with Bitcoin in the first place.

jseverson

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Quote from: cr1776 on October 27, 2020, 10:08:10 AM

I didn't know if we'd see JPM change their tune as long as Jamie Dimon was in charge, but it is definitely encouraging.

Dimon already backpedaled from his Bitcoin hostility way back in 2018, so this isn't really a surprise. They've been looking into crypto for a while.

Karartma1

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Quote from: cr1776 on October 27, 2020, 10:08:10 AM

I didn't know if we'd see JPM change their tune as long as Jamie Dimon was in charge, but it is definitely encouraging.

Now they just need an ETF. Everyone has had more than a decade to buy before the big boys do more, and it still isn't too late. I told people in the fall of 2010 that they should buy some, but no one cared to listen. I did again in 2013 (and in between and since), but only a few people did. Now people kick themselves.

(Just like internet domain names in 1993, 1994, and 1995 - no one would take the time to educate themselves and act and then complain later about things being "unfair". It is about choices. You can spend some time learning or not, but live with the consequences.)

I am totally with you on this. I started heavily accumulating (at least with what I could afford) when Bitcoin dropped in March 2020. It was a no-brainer: while all the govs were engaged (and still are) in QE inflating the money supply bitcoin looked me as the only asset to use to store and secure my wealth.
Of course I told many people to buy again but nobody bothered to listen.

cr1776

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I didn't know if we'd see JPM change their tune as long as Jamie Dimon was in charge, but it is definitely encouraging.

Now they just need an ETF. Everyone has had more than a decade to buy before the big boys do more, and it still isn't too late. I told people in the fall of 2010 that they should buy some, but no one cared to listen. I did again in 2013 (and in between and since), but only a few people did. Now people kick themselves.

(Just like internet domain names in 1993, 1994, and 1995 - no one would take the time to educate themselves and act and then complain later about things being "unfair". It is about choices. You can spend some time learning or not, but live with the consequences.)

Karartma1

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Bitcoin was higher, appearing to hold above $13,000 for the first time since January 2018.

But the most drama in crypto markets came after an exploit of the decentralized finance protocol Harvest Finance sent the platform’s native FARM token tumbling by 65% in less than an hour.

In traditional markets, European stocks slid as Spain declared a COVID-19 state of emergency and Italians were urged to stay home. U.S. equity futures pointed to a lower open on signs of a resurgence in the coronavirus and dimming hopes for a big stimulus package prior to the election. Gold was little changed.

Source https://www.coindesk.com/first-mover-bitcoin-steady-13k-jpmorgan-eureka

It feels so normal to read such news about bitcoin while if we go back in time these kind of news outlet were impossible less than 4 years ago! Bitcoin momentum is building up fast

Topic: [2020-10-26]First Mover: Bitcoin Steady Over $13K as JPMorgan Has Eureka! Moment (Read 109 times)