The co-founder at Ethereum and the CEO of ConsenSys Inc., Joseph Lubin, recently spoke to Bloomberg in an interview. In it, he expressed his optimism for the crypto market and said that the recent collapses in price are no constraint to further growth of the crypto market.
Lubin also said that the value surges in 2017 were another bubble in the previous “six big bubbles, each more epic than the previous one and each astonishing when it is happening”.
He also added that these peaks look like “pimples on a chart” when seen on close scrutiny. However, those bubbles also brought a significant burst of activity.
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As he noted:
“…We build more fundamental infrastructure, we see a correction, and the potential gets even more impressive… I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem and the growth of development in the ecosystem. We are probably two orders of magnitude bigger as a developer community than we were eight or ten months ago.”
Lubin also addressed the issue of the recent volatility and linked it to the “trader types” or speculative investors, saying that it is not necessarily an indicator of underlying infrastructure enhancement.
He concluded by saying that if we look at the price and make growth plans and projections, we are “still on track” and that the current situation is “not unexpected”. Meanwhile, Ethereum dropped to a 9-month low yesterday and is currently trading at $283, demonstrating a slow rise from yesterday’s rock-bottom price.
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