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Mati Greenspan and Michaƫl van de Poppe discuss whether now is a good time to invest in Bitcoin.
With global markets tumbling out of control, will Bitcoin finally fulfill its role as a hedge asset? Is now a good time to invest in Bitcoin?
CEO and co-founder of Quantum Economics Mati Greenspan and trader MichaĆ«l van de Poppe discuss how the Fedās strategy of āQE to Infinityā will help Bitcoin finally become a safe haven asset. But is now the time to buy or should you wait for further drops? Watch the full video to find out!
Bitcoinās Key Level
In an article for Cointelegraph, MichaĆ«l identified $6,800-6,900 as the key level to watch. Unless Bitcoin is able to break through that level, heās not very optimistic about upward movements:
āUntil we don't do that, I expect further downside to comments, just pure technical levels.ā
Mati is also watching those levels, but he is more focused on the long term than the short term:
āSo first of all, I only have bullish scenarios for Bitcoin. Yes, I would say 6,800 is a key level that has played out beforeā¦I would say overall, I mean, we're looking at a very wide range for Bitcoin, something between $3,100 and $20,000.ā
Why āQE to Infinityā Is Bullish for Bitcoin
The Fed was recently given the greenlight to print as much money as needed to stabilize the US economy. Michaƫl explained how this could lead to two scenarios which would both benefit Bitcoin:
āSo what you want to see at some point is that investors run out of the dollar given the inflation or deflation, and start to seek for other assets which are commodities like gold, silver, platinum and Bitcoin. The other scenario is that the crisis just continues to fall down until 2021 or 2022 and the equity markets bottom out, after which the other commodity markets and Bitcoin start to outperform the equity markets in the first case, which we have seen in '09 to 2011 with gold. So in the end, quantitative easing: I expect that to be bullish for Bitcoin.ā
Mati continued MichaĆ«lās comparison of Bitcoin to gold in the post-2008 era:
āIf you look at that and the aftermath to the financial crisis, which was, really as MichaĆ«l said, 2009, 2011, 2012. That's when gold really took the center stageā¦ It shot up $2,000 per ounce by 2011, 2012.ā
āAnd I think that gold, again, is already showing us incredible resilience since the beginning of the year. And I say if it went up or down during the crisis because it's kind of been fluctuating, but it certainly hasn't taken a hit like the stocks have, it's more or less held its value over that time. And I believe that Bitcoin will also be seen as this type of asset.ā
But the question remains: is now the time to invest or are there more downturns to be expected? Watch the full video to make sure you donāt miss Mati and MichaĆ«lās suggestions!
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Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.