Seriously Jamie, what the hell are you doing?
All Crypto traders know that Bitcoin, and pretty much every other crypto, experienced a flash crash a little over a week ago. The two main factors that drove it were China's announcement that they were cracking down on ICOs and exchanges, and Jamie Dimon, the CEO of JP Morgan, calling it a fraud.
Of course, the weekend of the crash, JP Morgan was caught buying significant amounts of Bitcoin. In fact, they were the forth biggest buyer. (Thanks again, ZeroHedge and Twitter user @IamNomad!)
So, of course, last night, Dimon Doubled Down on his comments....
Since we didn't hear of any firings after JP Morgan brought Bitcoin in the last crash, I'm guessing we'll JP Morgan will load up again over the weekend.
Why pay full price when you can forcefully drive the price down?