UPDATE: Cryptocurrency Investing Strategy - March 2018
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Price ‘An Imperfect Metric’ for Bitcoin Technology, Says Investment Strategist
Price ‘An Imperfect Metric’ for Bitcoin Technology, Says Investment Strategist
Bitcoin (BTC) continues to decline and so is the entire market. However, Bitcoin (BTC) continues to decline and so is the entire market. However Cryptocurrency Investment Strategy 2018
marks another day trading in the red with the rest of the entire market performing even worse. At the time of writing this, all top 100 digital currencies are depreciating according to
Signs of positivity could be found in the fact that
is rising despite the decreasing price – it currently stands at 53.6 percent.
According to Chief Strategy Officer at digital asset management company CoinShares Meltem Demirors, Bitcoin is a fairly new technology and that it would take time for people to understand it.
New technologies that shift the paradigm take a long time to really understand.
She also noted that there are no appropriate metrics to keep track of the technology’s performance apart from the price:
The narrative around bitcoin is still really hard to grasp. […] Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actual utilization look like? That’s really the struggle for crypto right now.
We are starting to see real traction. A lot of it is really dependent on finding those data points, those metrics that are going to drive that growth story.
According to the investment strategist, retail investors ought to ignore the price and consider cryptocurrencies as if they were early-stage internet stocks of companies like Intel, Microsoft, or Amazon.
She also reiterated on the fact that the massive run-up of the cryptocurrency market
What we saw in crypto was this massive run-up, where everyone got ‘FOMO,’ or fear of missing out, Cryptocurrency Investment Strategy 2018
Jonathan Cheesman, a partner at digital assets management company Distributed Global, also
the same belief who said that “FOMO was a huge driver and unfortunately, most of the purchases are now underwater.”
Furthermore, the investment strategist believes that the cryptocurrency space is transitioning from a speculative bubble to “building real businesses that serve a real purpose,” as
Do you think Bitcoin’s price will increase or are we in for a steady decline? Don’t hesitate to let us know in the comments below!
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