Bitcoin's story is difficult to pin, but with the initial internet shares, the real traction will come at a time, cryptocurrency investment strategist Miltem Demiers told CNBC on Monday.
Despite the desire to become a safe haven for Bitcoin, the cryptorrhonic has not seen a rally with the stopping of the Turkish Lira.
But crypto bulls are still hoping to see the actual traction and development in time.
Bitcoin's story is difficult to pin, but with the initial internet shares, the real traction will come in time, cryptrusion advocate Miltam Demiers told CNBC on Monday.
Demers working as Chief Strategy Officer of Digital Asset Manager, SinsShare, said on CNBC's "Fast Money", "New technologies that change the paradigm really take a lot of time to understand."
Despite the desire to become a safe haven for Bitcoin, the crypturrency has not seen a rally with the stopping of the Turkish Lira, which on Monday reduced a new all-time comparison to the dollar.
In addition to a brief rally in July, Bitcoin has been at least downward slide in December because of December 19, 000 dollars fall. Even a week earlier, the announcement - that the Intercontinental Exchange will help in creating an open and regulated digital asset ecosystem - brought a little movement in the price of bitcoin.
Despite this, Crypto bull praised it as a step towards legalizing cryptocourrency. Bitcoin fell by 0.6% to $ 6,277.
This may be a suitable time, but nobody is watching बिटकॉइन as a value shop because cryptocurrency is battling a story problem, Demiars said.
Demiors said, "The story surrounding Bitcoin is still difficult to understand." "In fact, we have the only metric for most cryptocoaries, and the price is such an imperfect metric. What does the real use look like? This is indeed a struggle for crypto."
Demirors suggested that institutional and retail investors should ignore the price and think of early Internet stocks such as Amazon, Intel or Microsoft, such as cryptocourrency Although successful now, after the dot-com bubble burst, it takes years to recover those shares from the initial heights.
"What we saw in crypto was this massive run-up, where everyone was afraid of 'FOMO' or disappearing, as we want to say, because the speculative bubble is there.
But now when the Bitcoin bubble has exploded, the DemiRers said that the capital is being positioned in "real businesses that make real businesses".
Demers said that it is not clear that bitcoin might start to get the price back, or that may appear, but the progress will depend on determining which metrics are best for measuring the growth of cryptocurancency.
"We are starting to see real traction, many of them are really dependent on finding data, those metrics that are going to run on the development story."
Most likely next month BTC will rise sharply if ETF is approved. Near Term target is 8200$