Chief strategist for digital asset management CoinShares and founder of Athena Capital Meltem Demirors believes that the fall of Bitcoin — is a temporary situation and that soon the first cryptocurrency stabiliziruemost. The key problem of all cryptocurrencies is that their technology is difficult to understand.
“New technologies, changing the paradigm, require a lot of time to really understand them,” said Meltem. It refers to the shares of Amazon, Intel and Microsoft after the dotcom bubble burst. “It took Amazon nine years to recover to the maximum. Intel to fifteen years. Microsoft — seventeen years.”
“What we have seen in the cryptocurrency market, the massive rise in prices in 2017, when people are just afraid to miss the opportunity and rushed to buy Bitcoin. This created a speculative bubble. But now the bubble burst, and people interested in creating real projects with real goals.”
Meltem indicates the main problem of cryptography. Bitcoin is still very difficult to understand ordinary people. Really, the only metric for most capturesource is the price, and the price is such a flawed metric. What is the actual use? In fact, right now there is a struggle over cryptography.
According to Demirors people should refers to the cryptocurrency as a long-term investment, focusing not on the price of the asset and its potential. In fact, to do the same as investors in Amazon, Intel, or Microsoft many years ago.