Day traders tempted by bitcoin's plunge are going to 'get slaughtered,' says blockchain entrepreneur

We're in the midst of biggest wealth transfer in history: Current CEO We're in the midst of biggest wealth transfer in history: Current CEO
10 Hours Ago | 03:59
Investors looking at bitcoin's drop of nearly 50 percent from last month's all-time high above $19,000 should not enter the market for the first time with get-rich-quick aspirations, a cryptocurrency entrepreneur with big-name backers warned on Wednesday.

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"If people are going to day trade cryptocurrencies, and they don't know what they are going, they're going to get slaughtered," said Dan Novaes, co-founder and CEO of Current.

His company, whose initial investors include billionaire Mark Cuban, provides an all-in-one platform for popular streaming services such as Spotify and SoundCloud. It also offers users a way to earn cryptocurrency to reduce or eliminate subscription costs.

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