Yes Proviron reduces SHBG BUT....
SHBG has a lower affinity for estrogen than testosterone.
Now since Proviron binds to SHBG so well, it sorts of pushes out the hormones that SHBG is holding.
Since SHBG has a lower affinity for estrogen than testosterone it has gives up the estrogen easier.
This argument is discussed here
http://www.endotext.org/male/male14/male14.htm
Secondly the testosterone that is released may well become so excessive it aromatizes thus increasing estrogen.
Sure with some people the overall effect may be good, after all some people can take say d-bol and have no estrogen side effects others do for example.
SHBG has a lower affinity for estrogen than testosterone.
Now since Proviron binds to SHBG so well, it sorts of pushes out the hormones that SHBG is holding.
Since SHBG has a lower affinity for estrogen than testosterone it has gives up the estrogen easier.
This argument is discussed here
http://www.endotext.org/male/male14/male14.htm
Secondly the testosterone that is released may well become so excessive it aromatizes thus increasing estrogen.
Sure with some people the overall effect may be good, after all some people can take say d-bol and have no estrogen side effects others do for example.