4 Percent Economic Growth 'Is Possible — Jamie Dimon

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"[Initial Coin Offering, crowdfunded cryptocurrency venture capital], you have to look at individually", Dimon said. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. A high-profile Fed president and notable bitcoin critic Jamie Dimon gave some fresh commentary, and we learned that leveraged bitcoin ETFs could be in the works.

Dimon offered up a number of justifications for his statements, noting the recently signed Republican tax reform bill and the sustained stock market rally in 2017. I expected the room to be full of tech nerds, and people like me, who study the underground economy (and maybe a few criminals). "The blockchain is real", he said, referring to the global database that holds all bitcoin transactions.

Although it was apparently not enough to significantly move the price of bitcoin, some financial industry heavyweights made comments about bitcoin and other cryptocurrencies, and a major leveraged ETF company is applying to get into the bitcoin game.

The recent pressure has provided bears with "new technical momentum", said Kitco's senior technical analyst Jim Wyckoff on Tuesday.

In September, Dimon threatened to fire any Chase employees that invested the bank's money in any cryptocurrency.

A computer screen displays a site featuring cryptocurrency token sales and ICO lists in Berlin
AFP 2017 John MACDOUGALLIn For a Penny In For a Gram Telegram Poised to Launch Native Cryptocurrency

Bitcoin was down nearly 2 percent at $14,786 in early trading on Tuesday.

Steven Nerayoff said that the growth of Ethereum-based projects could fuel a situation where ETH overtakes Bitcoin as the largest cryptocurrency by market capitalization. "If [bitcoin] can actually rise close to [that $20,000 level] in the first half of this year, I think in the second half of 2018, we'll see a move bigger than that".

However, he says, he's still "not interested that much in the subject" of bitcoin "at all".

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. "It's going to have a huge cumulative effect".