J.P. Morgan Chase CEO back pedaled today by saying that he regretted calling Bitcoin a fraud.
I wondered what his true intention was. Why now?
The CEO said, "The blockchain is real... The bitcoin was always to me what the governments are going to feel about bitcoin when it gets really big."
His comment did not seem to have any effect on the market.
The market is likely on the wait-and-see mode due to the fact that South Korean government was inspecting six local banks that offered the virtual currency accounts to institutions. The outcome from the investigation may have a big effect on the Bitcoin price.