THELOGICALINDIAN - Dave Portnoy Wants BTC Holders to Ditch Crypto for Stocks
On September 2nd, Portnoy begged his “crypto friends” to get complex with the banal market. The S&P 500 pushed college 1.5% in the accomplished 24 hours, with budgetary bang and retail buyers continuing to columnist the amount of the arch basis to the upside.
Portnoy cited Bitcoin’s advancing correction, which brought it to a bounded low about $11,200 aloof 18 hours ago as of this article’s publishing:
The Barstool Sports architect has declared on abounding occasions that he doesn’t anticipate Bitcoin and crypto are currently in a acceptable atom because if their disability to accord him constant assets every day. He ahead said that “no losses” are accustomed with his portfolio, appropriately why he cashed out of cryptocurrency afterwards demography a 1.5% loss.
Bitcoin Remains in an Uptrend
Portnoy may be appropriate in the abreast appellation — stocks outperformed BTC on Wednesday — but abounding anticipate Bitcoin has allowance to extend higher.
Dan Tapiero — the co-founder of DTAP Capital, Gold Bullion International, and added companies — afresh acclaimed that BTC is on the border of extending parabolically to the upside in this bazaar cycle:
Others accept echoed this absolute sentiment, including Mike McGlone of Bloomberg, BitMEX’s Arthur Hayes, and others in and alfresco of the cryptocurrency space.
Most accede that macro factors, like money printing, is assertive to wrest BTC higher.
