Former Federal Reserve director turned JPMorgan executive, called Bitcoin a bubble again. For the second week in a row he tried to call it an utterly worthless currency. He went on to compare it to the " tulip bulb craze in the 17th century", as well as said the government may likely "imprison" people who use it, stating it won't end well. First off, Jamie Dimon is like the guy who cried wolf in the finance world. Even according to his own words, his daughter bought Bitcoin.
The fact that he is saying that likely a government crackdown could be imminent, seems to show something happening behind "closer doors". Cryptocurrency isn't a bubble. In-fact, it would be much more reasonable to compare it to the dot-com boom in the late 90s. We are at the point where it isn't even that Dimon doesn't want a fully digitized currency anymore. It is the fact that Bitcoin and most stable cryptocurrencies are better technologically built. The NASDAQ should even start making IPOs similar to ICOs.
That being said, eventually a regulatory body or private foundation may need to moderate ICOs but it would have to be non-bipartisan. The only thing going on with cryptocurrencies that are bad are ICOs that intentionally don't get a ROI for its users or ponzis. This makes the rest of us as Blockchain startups look bad. As for now, every investment has risk and it is best to do due diligence. As for BTC or the Crpyto market being useless or an utter fraud, I would say that is a fairly unreasonable statement.
