This is the cowardly love between Dave Portnoy and cryptos; he dared to insult their dean by calling her a scam, while regretting today having deserted the crypto markets. Portnoy made the bitter experience of cryptocurrency volatility; the trader is considering a return to the game, after having learned from his setbacks.
Crypto my love, I miss you!
Dave Portnoy indicated in a recent interview with Anthony Pompliano , that he missed cryptocurrencies.
The interest of Portnoy for the cryptosphere is recent; it dates from August 2020.
The founder of Barstool Sports debuted in the crypto markets after a meet the twins Winklevoss that he had contacted on Twitter.
Portnoy had revealed the acquisition of Bitcoins ( BTC ) valued at $ 1.25 million.
A few days later, he discovered the extreme volatility of the price of cryptocurrencies, when his investment in
The trader then announced his withdrawal from the cryptosphere indicating that “the price of tokens did not always follow an upward trajectory” .
The experience was brutal; he believes that an investment of a million dollars is too risky a bet while his understanding of the mechanisms that govern the functioning of the crypto markets, is almost zero.
BTC trading is not for the nervous
Dave Portnoy had compared Bitcoin to a pyramid of Ponzi but, today he seems to have regrets about his departure from the cryptosphere.
He told Pompliano that one day he was considering making a comeback in Bitcoin . However, this will not be immediately, since he does not have enough cash.
Pompliano suggested to him for his return, to HODLer his Bitcoins as long as possible, instead of trading them.
Pompliano recommends avoiding scrutinizing the daily movements of the market, good advice for Bitcoiners whose nerves are not not strong enough.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.
Are you addicted to cryptocurrencies? Does Portnoy have to undergo detox sessions to forget the cryptos? Even seasoned players in traditional finance have to get used to the rules of the new finance: there is more adrenaline, more risk of loss, but also more attractive prospects for gains. When you’ve tasted Bitcoin once, it’s very hard to go without. All that would be missing would be the States decree BTC as a narcotic product to ban it and, thus spell the end of the cryptosphere.