Dave Portnoy’s Thanksgiving tweet about the Bitcoin price would be as relevant today as it was two years ago
Dave Portnoy, the founder of the sports and pop culture blog Barstool Sports, ruffled the feathers of many Bitcoiners two years ago when he tweeted about the “Thanksgivings Day massacre,” mocking the dismal price performance of the largest cryptocurrency.
Back then, Bitcoin shed more than 16% within a single day after recording significant gains and dropped to the $16,400 level.
Portnoy seemingly felt vindicated after selling his crypto and abandoning the community a few months prior to that.
The overly dramatic tweet attracted plenty of mockery after Bitcoin added an impressive 20% within just four days and came close to reaching $20,000. Of course, Bitcoin then went parabolic, skyrocketing to an eye-popping $57,000 a few months later.
After experiencing some turbulence in the middle of 2021, Bitcoin then soared past $59,000 on Thanksgiving Day just days after reaching its current all-time high of $69,000.
Fast-forward to 2022, the largest cryptocurrency is trading at just $16,500. Hence, it is pretty safe to say that Portnoy has the last laugh.
The disastrous performance of the leading cryptocurrencies definitely makes crypto a highly uncomfortable topic during this holiday season, with cryptocurrency enthusiasts having much less to be grateful for.
Bitcoin and Ethereum are down 75.94% and 75.35% from their record peaks, respectively. For those investors who bought into various bullish narratives last year, these losses might be too hard to stomach.
Written by: Alex Dovbnya