JP Morgan buys the dip after CEO spreads FUD.

[Cuddles]

https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/
https://www.nordnet.dk/mux/popups/m...identifier=113749&marketplace=11&limit=100000

aww lawd! If this was a regulated market, SEC would be all over it.



nvmnd, just brokers buying for clients it seems. Or were they?

 

[Overnight]

Typical Billy Ray Valentine reversal. If you have the clout, you can manipulate the market in your favor.

 

[JackRab]

It's an ETN... so shouldn't the SEC be all over it? Bitcoin might not be regulated but ETN's are.

 

[Pekelo]

2 points:

1. JP Morgan is also a brokerage. They do whatever their clientele tells them to do, it doesn't mean they agree with the trade.
2. If it was a huge buy it could have been short covering. You know, like they shorted at4.5K- 5K and covering now.

 

[JackRab]

2 points:

1. JP Morgan is also a brokerage. They do whatever their clientele tells them to do, it doesn't mean they agree with the trade.
2. If it was a huge buy it could have been short covering. You know, like they shorted at4.5K- 5K and covering now.

They are probably also be a market maker in that ETN... if you look at the rest of them... Timberhill, Flow, bunch of other banks... that's not your normal investor group either.

So I'm guessing, clients and market making...