Bitcoin price took a hit last year when Jamie Dimon, CEO of JPMorgan, claimed the cryptocurrency “is a fraud”.

The American CEO has now retracted his statement in an exclusive interview with Fox Business. 

He said: “The blockchain is real. You can have crypto yen and dollars and stuff like that. ICO's you have to look at individually.

“The bitcoin to me was always what the governments are gonna feel about bitcoin as it gets really big, and I just have a different opinion than other people. 

“I’m not interested that much in the subject at all.”

In a conference presented by CNBC in September 2017, Mr Dimon said bitcoin “is not a real thing, eventually, it will be closed.”

At the conference, Mr Dimon joked that even his daughter bought some bitcoin, hoping to cash in on the latest trend. 

He said: “I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down'.

”This is not advice of what to do. My daughter bought bitcoin, it went up and now she thinks she's a genius."

In a previous statement, Mr Dimon warned the crypto mania is “worse than tulip bulbs”. He said: “It won’t end well. Someone is going to get killed.”

After his comments, bitcoin fell to its session lows. On that day at 3:01 pm in New York, the cryptocurrency was valued at $4,106.23.

According to Coindesk at 2:43 pm GMT on January 9, bitcoin price is $14,509.2.