Buying cheap UK shares after the 2020 stock market crash might not be a profitable move in the short run. After all, the world economy faces a hugely challenging period that may even produce further difficulties for indexes such as the FTSE 100 and FTSE 250.However, the existence of such risks could produce buying opportunities for long-term investors. Undervalued shares have historically offered sound recovery prospects, with a return to stronger investor sentiment and positive GDP growth likely.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…As such, now may be the right time to avoid purchasing popular assets, such as gold and Bitcoin, in favour of cheap FTSE 100 and FTSE 250 shares.Buying cheap UK shares after the 2020 stock market crashMost investors are bound to feel cautious about buying cheap UK shares after the 2020 stock market crash. After all, sentiment remains weak. There could even be a further downturn over the coming months that leads to paper losses for investors.Due to this, the appeal of more popular assets, such as gold and Bitcoin, may rise. Gold’s defensive status and Bitcoin’s perceived lower correlation with the world economy may mean they even outperform the FTSE 100 and FTSE 250 in the short run.However, a strategy of buying undervalued British shares after a major market decline has historically been successful. Downturns, such as the 1987 crash, the dot com bubble, and the global financial crisis, left many investors avoiding the stock market.However, over time, it delivered a sharp recovery that led to high returns for many investors who purchased a diverse portfolio of cheap UK shares.Buying unpopular assetsOf course, buying cheap UK shares is a difficult task. Even if an investor can see that a basket of FTSE 100 and FTSE 250 shares offers long-term growth potential, the prospect of near-term losses may initally dissuade them from going ahead with a purchase.However, paper losses are unrealised until they’re sold. Therefore, buying high-quality companies that can survive short-term challenges, and benefit from a long-term recovery, could be a logical approach for an investor. They may trade in negative territory for many months.But, over a period of many years, history suggests the stock market is very likely to produce a recovery.Avoiding Bitcoin and goldMeanwhile, there is certainly no guarantee that gold and Bitcoin will continue to outperform cheap UK shares. Gold’s price rise in 2020 may fully factor in changes, such as low interest rates and a period of economic weakness. Similarly, Bitcoin’s lack of fundamentals mean it’s difficult to accurately value the virtual currency.As such, a portfolio of UK stocks could offer a more reliable investment option. Over the long run, they could recover from the 2020 stock market crash. In doing so, they may well produce impressive returns. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Peter Stephens | Tuesday, 3rd November, 2020 “This Stock Could Be Like Buying Amazon in 1997” See all posts by Peter Stephens Simply click below to discover how you can take advantage of this. Forget gold and Bitcoin. I’d buy cheap UK shares after the 2020 stock market crash Our 6 ‘Best Buys Now’ Shares Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Image source: Getty Images. Enter Your Email Address I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.