Topic: JPMorgan: Bitcoin's Market Structure More Resilient Than other traditional asset (Read 368 times)
June 14, 2020, 02:52:33 PM
But what they're gonna do now? How this huge of a banking establishment take advantage of Bitcoin without undermining it's own principals?
June 14, 2020, 12:42:26 PM
It's is purely business.
They know traditional financial markets will suffer a lot in the coming days years and investors will suit towards Bitcoin and other major cryptocurrencies and they want to cash it. Therefore such statements are more coming out from them.
You can expect other financial institutions and major banks to follow very soon
They are seeking an opportunity to make even more money and considering Bitcoin as a safe heaven now. They know traditional financial markets will suffer a lot in the coming days years and investors will suit towards Bitcoin and other major cryptocurrencies and they want to cash it. Therefore such statements are more coming out from them.
You can expect other financial institutions and major banks to follow very soon
June 14, 2020, 11:16:08 AM
I thought by now that CEO is more well known for his former hate for Bitcoin. Hasn't he apologised at least once already?
He's now known as the guy who used to publicly denounce Bitcoin only for his company to go dive into it. So really, he's just preaching the new motto for his club.
I'm not sure about the market being more resilient than others I've seen and participated in... but for sure where it's at now after only 11 years is something of a miracle.
He's now known as the guy who used to publicly denounce Bitcoin only for his company to go dive into it. So really, he's just preaching the new motto for his club.
I'm not sure about the market being more resilient than others I've seen and participated in... but for sure where it's at now after only 11 years is something of a miracle.
June 14, 2020, 11:03:25 AM
Quote
Keep your friends close and your enemies closer.
Playing the circulation of money.
Is this legal? Oh yeah!That's a good strategy considering many will believe them.
Now, their supporters will buy and making them sell at a large number.
Are they trying to be whales in the long run? Could be.
June 14, 2020, 10:26:38 AM
Yet another win for the bitcoin community. For the records, I wasn't surprised when I saw the article. JP Morgan is just looking for ways to stay relevant. After bashing Bitcoin in the last couple years, It was only a matter of time before they joined the bandwagon. Bitcoin is growing bigger with each passing day so JP Morgan would be at the losing end if they don't support bitcoin as we would soon see an influx of new institutional investors in the near future. Bitcoin is here to stay.
It's more of a synbolic victory rather than some tangible win, because JPMorgan is still a centralized entity that works with other centralized entities like Coinbase, and ideally we shouldn't be using them, because they oppose the principles of Bitcoin.
We are still far from point when ignoring Bitcoin is an objectively bad investment decision, so I wouldn't say that JPMorgan are afraid of missing out, it's more like they see that they already can make profit from crypto, and the risk is tolerable.
June 14, 2020, 09:23:43 AM
Don't visit Bitcoin.com, it's an anti-Bitcoin website, here's the same article on Bloomberg: https://www.bloomberg.com/news/articles/2020-06-12/jpmorgan-says-bitcoin-crash-survival-shows-it-has-staying-power
JP Morgan is now working with crypto exchanges, so it's in their interest to be bullish on crypto, because more trading = more fees = more profit. Even Jamie Dimon has softened his stance on Bitcoin so there's nothing paradoxical here.
JP Morgan is now working with crypto exchanges, so it's in their interest to be bullish on crypto, because more trading = more fees = more profit. Even Jamie Dimon has softened his stance on Bitcoin so there's nothing paradoxical here.
Yet another win for the bitcoin community. For the records, I wasn't surprised when I saw the article. JP Morgan is just looking for ways to stay relevant. After bashing Bitcoin in the last couple years, It was only a matter of time before they joined the bandwagon. Bitcoin is growing bigger with each passing day so JP Morgan would be at the losing end if they don't support bitcoin as we would soon see an influx of new institutional investors in the near future. Bitcoin is here to stay.
June 14, 2020, 08:47:32 AM
Don't visit Bitcoin.com, it's an anti-Bitcoin website, here's the same article on Bloomberg: https://www.bloomberg.com/news/articles/2020-06-12/jpmorgan-says-bitcoin-crash-survival-shows-it-has-staying-power
JP Morgan is now working with crypto exchanges, so it's in their interest to be bullish on crypto, because more trading = more fees = more profit. Even Jamie Dimon has softened his stance on Bitcoin so there's nothing paradoxical here.
JP Morgan is now working with crypto exchanges, so it's in their interest to be bullish on crypto, because more trading = more fees = more profit. Even Jamie Dimon has softened his stance on Bitcoin so there's nothing paradoxical here.
June 14, 2020, 08:35:13 AM
I know such kind of news don't really make a buzz anymore. But when it comes from company whose CEO is a known bitcoin hater, it makes room for discussions.
I think you should know that Jamie Dimon has changed his mind about Bitcoin just a few months after calling it a fraud. It is not clear to me why he is still called a hater more than a 2 years after he say :
Quote from: https://www.cnbc.com/2018/01/09/jamie-dimon-says-he-regrets-calling-bitcoin-a-fraud.html
In September, Dimon called bitcoin a fraud. “I regret making” that comment, he said Tuesday on Fox Business.
“The blockchain is real,” Dimon added in the interview. “You can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.”
“The blockchain is real,” Dimon added in the interview. “You can have cryptodollars in yen and stuff like that. ICOs ... you got to look at every one individually. The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big. And I just have a different opinion than other people.”
The man honestly and publicly admitted his mistake and apologized to everyone, unlike some others who have been waging their private battles with Bitcoin for years. Of course, the banks played by the good old method from the beginning - first they attack with the aim of destroying the competition, then they use the media for verbal attacks, and finally if they fail they try to jump into the crypto wagon and pretend that nothing happened.
Jamie also asked one very good question, and we all actually need to ask ourselves what will happen if Bitcoin becomes really big. Decentralizing finances the way Bitcoin is envisioned has been a nightmare for any government and politicians who have enjoyed their centralized system for hundreds of years.
June 14, 2020, 08:25:03 AM
Wow, if his sentiments are real, then this could only mean that great things are to come to this industry. But considering how he was in the past compared to this statement he recently made, I cannot shake off the idea that there really might be something fishy going on and that this may only be a part of a bigger plan that benefits him the most together with a few colleagues of his. But regardless of genuineness, people will always see this in a positive side.
June 14, 2020, 08:24:08 AM
I know such kind of news don't really make a buzz anymore. But when it comes from company whose CEO is a known bitcoin hater, it makes room for discussions.
Bitcoin.com reported,
Ref: https://news.bitcoin.com/jpmorgan-bitcoins-market-currencies-equities-treasuries-gold/
Changing stance of one of the largest bank in the world. What does it signifies?
Bitcoin.com reported,
Quote
JPMorgan’s strategists have reportedly found bitcoin’s market structure to be more resilient than those of currencies, equities, Treasuries, and gold. In a new report on bitcoin’s stress test, JPMorgan wrote that cryptocurrencies have “longevity as an asset class.”
Ref: https://news.bitcoin.com/jpmorgan-bitcoins-market-currencies-equities-treasuries-gold/
Changing stance of one of the largest bank in the world. What does it signifies?
Jamie Dimon might not be a true bitcoin hater.He just played a role of the hater.He actually doesn't care about Bitcoin at all.
It seems weird to me that JP Morgan's strategists spent time and effort researching the cryptocurrency markets.How did they manage to gather correct information(and is their information and data actually correct)?Most of the crypto exchange platforms are still faking their trading volume.
Are we heading towards mass crypto adoption by the big banks like JP Morgan?I don't think so.
For some reason I think that this is fake news.
June 14, 2020, 08:22:54 AM
It seems that JPMorgan wants to support the winning side in order to earn even more.
Agree. This is the main reason, if you can beat them join them. Realizing that they cant drag it down so they give up on creating fud anymore and now change their course to support it. Most of comment here says its about profit and probably this is the reason at all. Why will a huge personality suddenly give up on what he believe on the past? Credibility can be influence by money anf it will be the root of this sudden thought. June 14, 2020, 07:56:17 AM
It seems that JPMorgan wants to support the winning side in order to earn even more.
June 14, 2020, 06:32:54 AM
It's really starting to show how institutional investors are piling up and I imagine this is also because of client requests. It's also great that they've changed stance and started to realise its potential.
June 14, 2020, 06:03:22 AM
It's is purely business.
They know traditional financial markets will suffer a lot in the coming days years and investors will suit towards Bitcoin and other major cryptocurrencies and they want to cash it. Therefore such statements are more coming out from them.
You can expect other financial institutions and major banks to follow very soon
They know traditional financial markets will suffer a lot in the coming days years and investors will suit towards Bitcoin and other major cryptocurrencies and they want to cash it. Therefore such statements are more coming out from them.
You can expect other financial institutions and major banks to follow very soon
I agree, banks are in the business of making money so why not take advantage of crypto. He has been in the headlines since he says a lot of negative things against bitcoin. But we all know that is pure lies and Jamie did do it to create FUD, but on the other-hand, they stashing a lot of BTC and liquidate it when the price bounce back, Business 101.
And he set the blue print for other institutional investors on how to play the market and us. And as much as we hate them, it seems it help the bitcoin to gain the needed attention from Wall Streets and other deep pocket investors.
June 14, 2020, 05:59:09 AM
Changing stance of one of the largest bank in the world. What does it signifies?
https://fortune.com/2017/09/18/jpmorgan-buy-bitcoin-ceo-callingfraud/
June 14, 2020, 03:50:46 AM
It's is purely business.
They know traditional financial markets will suffer a lot in the coming days years and investors will suit towards Bitcoin and other major cryptocurrencies and they want to cash it. Therefore such statements are more coming out from them.
You can expect other financial institutions and major banks to follow very soon
They know traditional financial markets will suffer a lot in the coming days years and investors will suit towards Bitcoin and other major cryptocurrencies and they want to cash it. Therefore such statements are more coming out from them.
You can expect other financial institutions and major banks to follow very soon
June 14, 2020, 03:44:01 AM
Changing stance of one of the largest bank in the world. What does it signifies?
PROFIT, PROFIT, and more PROFIT.We know how this bank owner criticized Bitcoin in 2017 saying "says bitcoin is a ‘fraud’ that will eventually blow up" base on CNBC :LINK
Now he is on the opposite side already and now supporting it. His sudden change of stance is for profit and nothing more IMO. Maybe what is happening right now is one reason why he suddenly supports BTC.
June 14, 2020, 03:31:51 AM
Changing stance of one of the largest bank in the world. What does it signifies?
I believe its purely business at all. Why does JPMorgan become sweeter now with BTC is a huge puzzle but not hard to decipher. Changing sides means he/they found a way to make more money from it. We all knew this guy is an entreprenuer and using BTC as a reason for his agenda is likely be part of his plan. My bet is he already bagged some with these recent rally and now wanted to make profits by boosting BTC on news to surge hike.
I dont have proof but everybody can smell this kind of heist.
June 14, 2020, 02:34:54 AM
I know such kind of news don't really make a buzz anymore. But when it comes from company whose CEO is a known bitcoin hater, it makes room for discussions.
Bitcoin.com reported,
Ref: https://news.bitcoin.com/jpmorgan-bitcoins-market-currencies-equities-treasuries-gold/
Changing stance of one of the largest bank in the world. What does it signifies?
Bitcoin.com reported,
Quote
JPMorgan’s strategists have reportedly found bitcoin’s market structure to be more resilient than those of currencies, equities, Treasuries, and gold. In a new report on bitcoin’s stress test, JPMorgan wrote that cryptocurrencies have “longevity as an asset class.”
Ref: https://news.bitcoin.com/jpmorgan-bitcoins-market-currencies-equities-treasuries-gold/
Changing stance of one of the largest bank in the world. What does it signifies?
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