Dave Portnoy’s Thanksgiving tweet on Bitcoin price would be as relevant today as it was two years ago
Dave Portnoy, the founder of sports and pop culture blog Barstool Sports, ruffled the feathers of many Bitcoiners two years ago when he tweeted about the “Thanksgiving Day massacre,” poking fun at the dismal price performance of the largest cryptocurrency.
At the time, Bitcoin lost over 16% in a single day after posting strong gains and fell to the $16,400 level.
Portnoy apparently felt vindicated after selling his crypto and dropping out of the community a few months prior.
The overly dramatic tweet drew a lot of teasing after Bitcoin added an impressive 20% in just four days and nearly hit $20,000. Of course, Bitcoin then went parabolic, skyrocketing to $57,000 a few months later.
After experiencing some turbulence in mid-2021, Bitcoin then surged above $59,000 on Thanksgiving Day just days after hitting its current all-time high of $69,000.
Fast forward to 2022, the biggest cryptocurrency is trading at just $16,500. Therefore, it’s pretty safe to say that Portnoy has the final say.
The dismal performance of major cryptocurrencies definitely makes crypto a very uncomfortable topic this holiday season, with crypto enthusiasts having far less to be grateful for.
Bitcoin and Ethereum are down 75.94% and 75.35% respectively from their record highs. For investors who bought into various bullish narratives over the past year, these losses might be too much to bear.
