Recently Jamie Dimon (JPMorgan CEO) said Bitcoin is a fraud.
While the price of Bitcoin temporarily dipped after his remarks, it actually backfired in the face of Jamie Dimon as the price of Bitcoin (BTC) quickly rose to new all time highs and has recently passed the $8,000 mark!
China banned cryptocurrency ICOs (Initial Coin Offerings)
However, Japan picked up where China left off and legalized cryptocurrency as well as started giving licenses to cryptocurrency exchanges.
Why is Bitcoin about to explode and go parabolic? Three main reasons for the near future:
– China is about to make major announcements over the next few days. It is speculated to involve allowing ICOs again and backing cryptocurrencies.
– Coinbase is launching Digital Asset Custody for Institutions. This is major news that isn’t being very publicized at the moment. Tens of millions will flow into Bitcoin (BTC) as a result of this and could cause the price of Bitcoin to skyrocket. Read more about Coinbase Digital Asset Custody program: Coinbase Digital Asset Custody
– CME Group will be launching Bitcoin Futures Trading which will bring multimillion-dollar traditional investors into Bitcoin (BTC). This will help solidify the Bitcoin price at current levels. While some argue that Bitcoin is currently in a bubble, traditional big money will stabilize the bitcoin price and base level resistance a higher and higher levels.
Peter Brandt (Twitter: Peter Brandt) has been a technical analyst and trader since the 1980’s. He is one of the top classical technical traders around and he recently tweeted the parabolic rise of Bitcoin (BTC) showing how the Bitcoin price is on its way to $10,000:
Peter Brandt’s graph speaks for itself. Bitcoin is not a fraud and traditional investors are coming in droves. Over 300k people signed up last month on Coinbase.com where you can buy Bitcoin with a Credit Card, Debit Card or Bank Account.
Go Here to Buy Bitcoin