Co-founder and CEO of prominent cryptocurrency infrastructure firm Blockchain, Peter Smith, recently tweeted to his followers, urging them to be “prepared for the long haul.” He referred to an article published six months ago in Financial Times, in which is argued how cryptocurrency is here to stay. His comments come after CNBC’s Brian Kelly hinted that the digital coin market has hit rock bottom and adoption rates are low.

Since January 2018, the crypto market has been in a sticky situation. The prices keep falling, and regulatory oversight keeps increasing.

Brian Kelly noted that the price of Bitcoin has fallen by over 70 percent since mid-December 2017 to early-January 2018. However, the prices are still 125% year-on-year.

While long-term prospects still look good, short-term investors are burnt because of the price declines, taking away all the liquidity from the markets. Smith believes that the revolution of the world’s financial system won’t be easy and would take a long time. Until then, investors need to have faith in the crypto economy.

In a tweet, he said:

“My piece in the @FT is now six months old, but still quite valid I think. It’s going to take a long time, and a lot of ups and downs, to build a new, truly digital, financial system. Be prepared for the long haul!”

The original piece predicts that the value of digital assets will rise and fall very quickly as it is still a very young system. Short-term investors are bound to lose money with such aggressive fluctuations in prices.

Smith suggests that both crypto enthusiast and crypto critics talk about extremes, failing to see how significant the adoption of these digital assets could be. He further states:

“Investors should only invest if they believe in the long-term vision of creating a global, stateless, opt-in financial system. They should also be prepared to hold their position for a very long time. I know I am.”

The digital currency revolution is frequently compared with the rise of the internet. However, in terms of comparison, crypto numbers are a far cry from the internet.

The exact numbers are difficult to determine. However, a common consensus suggests that less than one percent of the global population has dabbled into crypto coins.

A 2017 Cambridge study shows that Bitcoin is still the most widely supported cryptocurrency in exchanges and wallet services around the world. The adoption rate for the internet was 50%.

Instant adoption of the coins does not seem likely around the globe, especially as some nations are against their use altogether. It may take a few years for these assets to fully mature and become a part of the global financial system, revolutionizing it from the grounds up.

Blockchain CEO Peter Smith Advises Patience, Says Adoption Isn’t Instant was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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