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JP Morgan CEO’s Bitcoin rant causes hiccup in cryptocurrency value

JP Morgan CEO Jamie Dimon set off a market slide when he called Bitcoin a “fraud” that would “blow up” earlier this week at a conference. The price of Bitcoin – already slumped over 10 percent off word China may ban cryptocurrency – further dropped to $3,772, the lowest it’s been in a month, after Dimon’s remarks. If he’s to be believed, the end of Bitcoin is nigh. Then again, reports of Bitcoin’s demise may have been exaggerated. Bitcoin sits at $3,894 as of Wednesday afternoon and its all-time high is less than $5,000. For perspective, six months ago Bitcoin…

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