Asset manager Charles Edwards has described the current market situation as a remarkable opportunity to accumulate Bitcoin. He is the youngest analyst to highlight the strength of Bitcoin’s fundamentals, which point to a significant price recovery on the horizon.
Bitcoin’s foundation remains strong
Edwards encourages crypto investors to trust the data and not the current Bitcoin price. All signs point to a strong recovery.Many other analysts make the same claim. In fact, long before COVID-19, Bitcoin was well on the way to experiencing its strongest year ever – and all fundamental indicators in this regard have remained the same.
He refers to the clearly over-indebted real estate bubble of 2008, which only a handful of wise analysts rated as “unsustainable”. As with all bubbles, the bang caused huge losses – but investors who saw the crash coming and knew how to use the market for themselves reaped huge profits.
As of this month, governments around the world have taken aggressive steps to mitigate the effects of the upcoming economic crisis. These solutions can provide relief in the short term, but could have an adverse effect over time. In this context, buying Bitcoin becomes an even more attractive option.