The defender has revealed it will be tough to recover from the dramatic defeat to Borussia Dortmund, but hopes the Liga side are remembered for their efforts this season
The Andalusians looked set to record an impressive 2-1 triumph at Signal Iduna Park and progress to the semi-finals of the competition, only for two goals in injury-time to deny them the chance to face Real Madrid in the last four.
Demichelis has revealed that memories of the night in Germany are difficult to dispel, but is hopeful that Manuel Pellegrini's side will be remembered by football fans for their impressive maiden campaign in the competition.
"The game was over a month ago, but those last five minutes have played over in my head about 20 times," he told Marca. "There are nights where images and memories from that night still appear to me. The silence of 65,000 German fans, and all the people of Malaga cheering and celebrating.
"It's difficult to find an explanation. There's never going to be one, because of the images and the pain.
"It's not an injury, but a scar. I cannot accept it and I cannot allow it to remain in the past, because I am very self-critical. I still keep playing that game in my head.
"I have a sense of sadness, panic or whatever you want to call it, but you have to stay with the pride at the memory of this Malaga and their fans who faced all rivals and obstacles, who surprised players, coaches and fans across Europe and the world."
The shadow of a European ban and financial problems looming over the club means an exodus of top talent is expected at the club this summer, but Demichelis insists he has made no decision over his future as yet - although he admitted the future of the coach could play a part.
"I did not make any decision. It is best to take it at the end of the season, so I can do my best possible and because if I do choose to stay I can play in the Champions league or Europa League and, if not, I can say goodbye in the best way possible," he added.
"It would be a great motivation if Manuel Pellegrini stays. The first thing you have to do here if you want to achieve important things is to retain the coach."