Hey Steemit friends:
Lets briefly discuss what’s been going on in the cryptocurrency market the past two days. I’m not using any major terms so a person who has very little knowledge about Bitcoin (BTC) or other cryptocurrencies can follow this post. I am going to share a few thoughts about the CNBC article circulating in regards to a statement JPMorgan Chase’s CEO Jamie Dimon made to Delivering Alpha and said “Bitcoin is a fraud. ” He also said “it's just not a real thing, eventually it will be closed.” And lastly he harshly stated, he would “fire in a second” any JPMorgan trader who was trading Bitcoin. These statements and opinions were given on Tuesday, September 12th, 2017.
Fast forward to today and lets discuss what’s going on in the cryptocurrency market. Clearly the market not only reflects China’s most recent ruling of banning initial coin offering (ICO) exchanges but now we see the crypto market plummeting not long after Mr. Dimon’s expressed his OPINION on Bitcoin. Ok everyone what I am about to share with you some basic and MASSIVE information! So quit panicking!!! He only said “Bitcoin” he DID NOT say the cryptocurrency market as a whole! In fact, upon further research today, I found that JPMorgan is a significant member in the Enterprise Ethereum Alliance (EEA). Take a look at the members in the Ethereum Alliance link right here below ❗ WOW!!!
https://entethalliance.org/members/
As always, cryptocurrency is a risk, but so is every other investment. Heck everyday you are actually risking your life. You just have to live it to the fullest. But after seeing those members on that list, what makes you believe that cryptocurrencies as a whole are going away anytime soon!? It will just depend on what currency you chose to invest in and purchase. Are we as a whole really blind to see what is going on here!? JPMorgan’s CEO said “BITCOIN” he NEVER said Ethereum (ETH) or any other ICO for that matter. So please quit panicking and HODL on to your investments! Or if you are very skeptical of Bitcoin, then just exchange it for something else like Ethereum(ETH), Litecoin (LTC), Monero (XMR), DASH, etc. After seeing that website, I will hands down be purchasing what I can afford in Ethereum! If anything, today’s market creates a FANTASTIC opportunity to get in on the ground level before it significantly increases.
Let me also state that previous Bitcoin skeptic and now cryptocurrency enthusiast Mark Cuban is now a key player in the market. I applaud Mr. Cuban for seeing its true value and potential. I love that he changed his mind after new information was presented to him and he is now really discovering its possibilities and sharing with others. That’s incredible and we all need to be doing that!!! We need to be listening and researching so that we can separate facts from opinions. Everything in life is a risk! Investments, money, and currency as a whole only work if the people BELIEVE in it and if that currency is not backed by debt, it is a major plus to its value! Cryptocurrency is not backed by debt nor any central bank so keep that in mind! This is the first of its kind and it’s a groundbreaking way that you don't have to exchange your currency with other countries during international travel. In fact, cryptocurrencies are global one world currencies. Other major investors and entrepreneurs include but are not limited to the following: Richard Branson, John McAfee, Bill Gates, Ashton Kutcher, etc.
Here’s a video of Mr. Gates discussing Bitcoin in which his opinion is completely opposite of Mr. Dilon. In fact he supports Bitcoin.
If a person with extreme influence such as CEO Jamie Dilon causes panic in the market then prices will plummet. And again, let me reiterate, he NEVER EVER said “ALL CRYPTOCURRENCY” he just said “BITCOIN.” Let me tell you this just creates an opportunity for those who were skeptical, watched from the side lines and didn’t enter, to now be able to get in the cryptocurrency market at a lower price. Panic and fear switches the market from a sellers’ market into a buyers’ market. Thus, if you believe in this system of block-chain backed currency like I do after doing my OWN research and discussing with a brilliant friend of mine who is an ETH developer and Blockchain consultant, this only creates more opportunity for investors.
Please feel free to further discuss with me in the comments below.
*Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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