It's not the end of Bitcoin, it's just a complicated phase

Bitcoin, like the rest of the cryptocurrencies, has presented a pronounced downward trend in recent months, causing investors to worry more and more about their assets. However, some experts, including Meltem Demirors, call for calm, claiming that this is only a stage that will soon pass.

The defender of Bitcoin, Meltem Demirors, who currently serves as director of strategy at the company CoinShares, ensures that, as with the first actions of the Internet, real traction for cryptocurrencies will come soon.

In an interview for CNBC, Demirors said that "new technologies that change the paradigm take a long time to really understand." This lack of understanding can end up causing great misunderstandings or lead to bad decisions.

But understanding something as complex as the behavior of a cryptocurrency is not an easy task, so it is normal that many people, although they own and transact with Bitcoin, do not fully understand how digital currencies work.

Bitcoin has tried to become a safe haven of assets; However, due to its large fluctuations and, in particular, due to its recent decrease in price, few people see the most popular cryptocurrency as a stock shop. But, according to Demirors, while they continue to use traditional currencies, such as the dollar or the euro, to measure their value, Bitcoin will not be able to become a refuge for assets.

This was the opinion of the bitcoin advocate

"Actually, the only metric we have for most cryptocurrencies is the price, and the price is such an imperfect metric. How is the actual use? That is really the fight for cryptography at this moment, "he said.

The cryptocurrency advocate explained that the value of virtual currencies should be measured in terms similar to an initial Internet stock, such as Amazon, Intel or Microsoft.

It compares with companies related to the Internet due to the famous dotcom bubble, which many compare with the current state of cryptocurrencies. Although these companies, after reaching their historical highs and exploiting the bubble cost them to recover, currently most of them enjoy great success.

You could say that for now the Bitcoin bubble has exploded, but this only means, for Demirors, that it will begin to deploy capital to "build real businesses that serve a real purpose".

Although the CoinShares executive is convinced that the value of Bitcoin will recover, she is still not sure how long it will take or what that "value" might look like.

Like this, there are many other opinions about the future of Bitcoin. The most important thing is that the cryptocurrency enthusiasts are informed, know several and stay with which, for them, is more convincing.