- Asset Manager Charles Edwards recently pointed out that the current situation might be a good time to accumulate BTC.
- Edwards, and many others, expect that the crypto prices will recover in the future.
- Meanwhile, he suggests that the steps the world's governments are taking to ease the citizens' financial issues will have very negative consequences in the long run.
The crypto market is currently in rather bad shape, as BTC continues to see drops in value, and has recently broke the $6,000 support level. However, as many are turning bearish, asset manager Charles Edwards points out that this is a remarkable opportunity for anyone who wishes to accumulate Bitcoin.
Edwards is not the only one who sees the current price crash as an opportunity, but he is the latest analyst to suggests that the price rebound will come and that the current opportunity should not go to waste.
Edwards pointed out that investors should trust the data, instead of looking at how the price performs at this time, as all signs point towards a major recovery. Other analysts have suggested as much, as well. In fact, before the COVID-19 pandemic took place, experts were calling 2020 the strongest year in Bitcoin history, expecting its price to surge to an entirely new ATH due to the pending halving.
In order to make his point, Edwards referenced the over-leveraged housing bubble of 2008, noting that only a handful of analysts saw as unsustainable back in the day. Eventually, the bubble popped, causing major losses, but the investors who expected it shortened the market, and managed to reap major benefits.
A troubled future on the horizon: Can Bitcoin help avoid it?
These days, the global economy is seeing a major meltdown, despite the world’s governments taking major steps to reduce its impact and soften the pending economic crisis. The solutions in place might only provide short-term relief, and end up being very bad in the long run. This is why it is suggested that buying BTC might be the smart way to go about the current situation.
One such step was made by the US Fed only days ago, as the central bank eliminated reserve requirements that the banks must have for lending. Many analysts, Edwards included, believe that this is likely to lead to inflation and maybe even cause bank failures in the future.
In addition to that, the Federal Reserve also cut interest rates to 0% for the first time since 2016. This decision, combined with a multi-trillion dollar handout to the public is likely to have a very negative impact in the future. However, it is currently necessary to ease the Americans’ financial pains.
Meanwhile, in the crypto industry, Bitcoin is still managing to remain around $6,000, even though currently it sits below this level. The volatility remains strong, and it is quite possible that the coin might find his way back up in days to come. Block halving is only a bit over a month away, at this point, so anything is possible.