Coin Telegraph
GOOD MORNING STEEMIT!
Well I hope we all survived yesterday's crypto dump. Also lol at using the work dump for a 5% drop while hovering around all time highs.
I know this is crypto and facts don't really matter here, but seriously lol.
Anyway, along with the persistent China rumours (which I'm not even going to bother addressing because that country and government are so ridiculously fake), we got this:
BREAKING: JPMorgan CEO Jamie Dimon says bitcoin "is a fraud" that will eventually blow up
Just give me a second here...
Oh man, come on.
This is the same JPMorgan Chase that paid out $13 BILLION... yes, BILLION... in fines and compensation to the U.S. government because it essentially caused the global financial crisis by willingly selling FRAUDULENT credit default swaps to you and me.
Bitcoin was literally created from the shadows that they cast over the entire financial system as we currently know it.
If Jamie Dimon and JPM feel compelled to talk down Bitcoin, this should actually be viewed as one of the most bullish events of the year.
They're worried. And so they should be.
This is barely the beginning!
BTC/USD Daily
I've blogged about why I don't think Bitcoin is in a bubble before and in that post I spoke about the fact that BTC/USD on the daily can pull all the way back to the $3000 level and still be MASSIVELY bullish.
It's scary and shit for you that want money now, but it would actually be a healthy market move and show that Bitcoin is maturing as a market.
Look at the way that price is spiking back up on the daily above though. Maybe the market is already coming to its senses?
BTC/USD 4 Hourly
Zooming into an intraday chart and we've got a nice 4 hourly pin bar that's formed. For now that's just an indecision candle rather than a reversal candle, but it's there none the less.
BTMFD.
I'm actually most pissed off that all this unrelated FUD ruined the QTUM rocket ship launch last night.
Burninggg!
Peace.
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