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Jp morgan generally doesn't buy anything for themselves..
They generally buy it for a client who have invested with them..
Who knows their would be few clients who wanted an exposure to cryptocurrencies..
If you have not been living under a rock,
then you will note that Greed and Corruption run this world..
Do not do what they say, do what they do..
They have been caught out before doing this sort of thing,
telling clients to buy while they sell..
God gave you a smart brain, so use it..
In a world, where things are not all they seem..
Trust your intuition..
If anybody would know a certain answer then he probably would make quite a lot of money..
My point of view would be:
The big drop in value has been caused by China apparently shutting down crypto-exchanges, that’s why many Chinese are selling their cryptocoins now..
BTCC (a major Chinese exchange) has announced that it will cease operations at the end of September..
If the same should apply to the other Chinese exchanges (which we do not know yet) then you could expect selling pressure on Bitcoin roughly until end of the month, maybe a few days less..
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BTCC should just relocate to another county its not the end of the world for Bitcoin! China out means no playing with the market as seen in the past years!
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Probably the low was already found at 3000. Now we are building a solid bottom. The more time it takes, the better for the future. Be patient.
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@lordoftruth,
JP Morgan's speech against BTC proved his fear against BTC :D Look they are the owners of world biggest ponzi scheme so called as Banks! And crypto market started capturing top investors of them and they started fraudulent stories against BTC!
Yes, in current situation, most of Chinese coin holders are selling BTC and other cryptos. Coz they are panic with PBOC news! This market drop will change back in 1st week or 2nd week of next month! So, HODL till it back to normal!
Great article and very useful stuff for crypto people!
Cheers~
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Its very 👌👌👌👌interesting 👌👌👌👌info.. Fantastic post 👍👍👍👍keep it up.👌👌👌👌
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Wish it stabilizes soon.
I got into the bitcoin/altcoin world when bitcoin was at $5000. :(
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You know what, i believe that china banding bitcoin is a scam myth.
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Crypto market is highly volatile at the moment. and I don't think it will settle soon.
JPMorgan creating issues and they are the people who make the money out of it
Cheers!
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I also think that the ascent of bitcoin will begin in late September.
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Seems like your theory will kinda work ,so just have to get ready for the right spot and Accumulate BTC now
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Aboslutely, bitcoin will stabilize and wax stronger soon
Check my post on bitcoin rise and fall
https://steemit.com/bitcoin/@mickyscofield/economics-of-bitcoin-why-exactly-does-bitcoin-rise-and-fall
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@lordoftruth Its very interesting info.. Fantastic post keep it up.
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Congratulations @lordoftruth
MinnowsPower listed your post "Will Bitcoin Sabilize Soon!" as one of the top 10 upvoted and commented posts of the day...!!!
Exceptional article of crypto market review.
100% Upvoted by @MinnowsPower
MinnowsPower is not a bot, I am a Crowdfunding Hybrid
One small UpVote of Yours build MinnowsPower and MinnowsPower will Not Forget Your Support...!!!
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This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
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Jp morgan and gang would not let it stable for sure now as they have got the influence over the market
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Indeed @lordoftruth..😊
Bitcoin will recover soon as earlier.. JP Morgan or no one will able to stop Bitcoin rising..
I appreciate your effort..
Upvoted and cheers..😊👍👌🍺🍻
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I don't think this bubble is just about china and JP Morgan, I think it is just part of a natural circle. I just made an analysis about this
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i don't know to much but bitcoin is something that will need a few big changes for it to stabilize, but in a year or so it could be stable. (I'm guessing you meant stabilize not Sabilize)
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Stabilize or not, it is the short term question. Whether it is sustainable and gonna last for 5 to 10 years later is probably another important question to ask :)
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China banding bitcoin is totally rubbish and myth. I am not ok with that. Thank you for sharing
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Transactions in China have already dropped a lot, and their volume was picked up by nearby countries (mainly Japan). It's not the end of the world and I am sure Bitcoin will get back on track to hitting 10,000. That is a huge milestone and many people don't want it to go that high - that's why it keeps getting hit after hit after hit.
But in the end, the truth will prevail and cryptos will go up and establish themselves as major coins, taking over the world. It might not be as soon as many of us had hoped, but it will happen!
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@lordoftruth - You are absolutely correct sir. This panic market is only by ban of Chinese exchanges. So, all BTC holders of China are selling their BTC right now. In other word this is an opportunity for rest of the world :D
+W+ [UpVoted & ReSteemed]
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