JPMorgan CEO Jamie Dimon on bitcoin: My personal advice is don’t get involved
In this Davos discussion Jamie Dimon stated his position on Bitcoin by noting that it is a “Pet Rock” used in nefarious transactions and speculative trading. What is not discussed is how the U.S. Dollar and Euro can affect the price of Bitcoin. Bitcoin is currently in a structural position similar to where the Euro was in late 1981, right before it fell 33%. After the Euro’s decline it started a sharp move to the upside going into December 31, 1987. If Bitcoin moves lower as expected it would be the result of the Dollar moving higher.