JP Morgan Now Says Bitcoin Could Triple in Value

JP Morgan Now Says Bitcoin Could Triple in Value

A team of analysts at J.P. Morgan’s Global Markets Strategy group are touting Bitcoin’s emergence as an alternative to gold among millennials, suggesting a “doubling or tripling” in the price of the cryptocurrency if current trends continue.

The prediction, which came in a research note published on Friday, is remarkable given the bank’s onetime skepticism toward Bitcoin, which included CEO Jamie Dimon calling it a “fraud” in 2017 and saying he would fire anyone trading it for being “stupid.”https://fortune.com/2020/10/26/jp-morgan-chase-bitcoin-predictions-analyst-jpm-cryptocurrency/

JP Morgan Chase Bank, et al…These are the same people that told you NOT to buy Bitcoin during 2018-2019.  Even more recently, they put out a release, which looks like a child wrote it, that outlined several reasons why Bitcoin was not a good thing to buy. 

Apparently, all that has changed!

I wrote about these institutions in this article: Meet The Manic-Depressive Mr Crypto And His Consolidation Act, from 2018.  In that article, I said how these people were buying Bitcoin while the prices were low, talking it down while telling everyone else not to buy.

They did not have any Bitcoin at the time so they were looking to buy in at much lower prices. 

I believe they now have all the Bitcoin they want for now, so they have completely reversed course.

According to JP Morgan “analysts”, Bitcoin is now OK, and its price could even “triple” from today’s prices.

This is exactly why average people need to be financially educated and make up their own minds about these things, because you can best believe the monied financial interests, big banks like JP Morgan Chase, are always working against everyone else, including their own clients!

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