A local media reported on December 10 that JPMorgan released a report on the 6th of last month that the theoretical value of Bitcoin was $170,000. This smells a little strange.

It is strange that the domestic media reported more than a month later. It is also strange that JPMorgan released the above report when Bitcoin prices began to fall. This is especially true because there are quite a few cases where JPMorgan published malicious reports.

Let’s just hear one representative example. I’ve already mentioned it here once, but to go into more detail, it’s as follows.

JPMorgan released a report suggesting that oil prices (WTI) will rise to 64 U.S. dollars sometime in 1979. Oil prices started to fall then, too.

A $46 spot offer was delivered to me just in time. Something was not right, so I turned a blind eye to the validity of the offer, and a re-offer came at a 50 cents discount. I learned later that the Ministry of Power, a government department, had an offer for $45.

A ministry official was informed that the offer should never be received because oil prices would fall in the future. However, the offer was accepted and KNOC introduced the supply.

When the quantity arrived in Korea, the oil price fell to the $18 mark, resulting in a loss of at least $30 million. The loss is now worth more than $1 billion given the size of our economy at the time. Still, no one was held accountable.

It is likely that JPMorgan’s Bitcoin report was published with the same intent now. In other words, someone may have mobilized the JPMorgan report to sell their large holdings of Bitcoin before their price drops further. Be careful.