According to Jeremy Millar a renowned expert on the Crypto-currency saws that the future of bitcoin is tied to its technology and the way it is traded in the markets. “A cryptocurrency market will have exchanges, it will have brokers, it will have speculators, it will have payment networks,” he says. “The features of blockchain as a market are institutional adoption, integration with existing business processes, IT planning and budgeting, evaluating technology replacement.”

As of last November, a record $1 billion has been invested in Bitcoin-related firms so far.

The price of bitcoin is not exactly tied to any market or any other asset and can be very difficult to predict or trade. In the wake of damning essay at the end of last week, the bitcoin price staged one of its sharpest declines of the year, and bottomed out around $350 flat – a level not seen since the beginning of December last year. More often than not these breaks require a fundamental catalyst – one impactful enough to shift sentiment to favor one direction or the other.

Some think the negative media barrage sabotaged bitcoin’s price which tumbled around 15% following this announcements. But bitcoin’s price has since recovered some of the ground it lost. In light of bitcoin’s more recent price improvement while the stock market has delivered its worst early year performance the market has spoken and decided that as commodities and stocks collapse, “bitcoin is far from a ‘failure.’”