Investment Strategist Merlin Rothfeld Calls Current Bitcoin Market Conditions
Merlin Rothfeld is probably best known as the host of Power Trading Radio. His work on and success with the radio show led to his promotion in 2018 to Director of Content Production. He is also an active trader who has been involved with the financial markets since 1996. He has built financial curricula and created the first dedicated trading labs at a European University.
Merlin's experience with trading strategies, ranging from long term investing to short-term, high volume trading, offers students a well-diversified perspective of smarter trading and investing.
He sat down for an interview with Cheddar recently and said:
“The technology behind what makes cryptocurrencies popular is threatened right now. That’s the problem that I think is going to bring down a vast majority of cryptocurrencies.”
He said that it is extremely possible that investors are going to rush to buy BTC, even though it might seem like a risky asset. People being shocked about the recent bear markets is a good phenomenon in his opinion.
“There could be some great buying opportunities coming up here. There are a few crypto assets that have great potential for the future, but right now, we’re in the midst of an absolute bloodbath and to be honest, we’ve seen in this in Bitcoin’s history before.”
Having crashed down 80 percent from its peak, the bears don’t seem to have any end in sight. According to experts, the bottom might be near, however, this is time for accumulation as bulls can’t be expected to enter immediately after bears’ exit.
You can watch the entire interview here.