The collapse of the price collapse will not hinder further growth

The co-founder of Ethereum and ConsenSys CEO, Joseph Lubin, said in an interview with Bloomberg on August 14th not to see the recent collapse of cryptocurrency prices as a limit to the 39; further growth.

In a recent discussion on the state of the cryptocurrency market with Bloomberg, Lubin said the last year's rebound was just another bubble like the previous "six big bubbles, each one more epic than the previous one, and every bubble is amazing when they are happening ".

He added that on a careful examination those tops look like "pimples on a graph". Lubin said that every bubble, like the current one, brought a significant explosion of activity. He declared:

"… we build a more fundamental infrastructure, we see a correction, and the potential becomes even more impressive … I expect absolutely that there is a strong correlation between the price increase and the the growth of key ecosystem infrastructures and the growth of ecosystem development We are probably two orders of magnitude larger than a developer community compared to eight or ten months ago. "

Lubin attributed the volatility to "types of traders", ie speculative investors, saying that it is not necessarily an indicator of the improvement of the underlying infrastructure. When asked how volatility affects prices, Lubin responded:

"So we can look at the price and make growth plans and projections, and we are still on track, in practice, so this is not unexpected." [19659005] Yesterday, Ethereum (ETH) fell to a minimum of 9 months, and was trading at $ 288. The last time the altcoin fell below $ 300 was in the beginning November 2017. This morning's losses have increased by 16% on the day and almost 35% in the last week.

Currently, ETH is trading around $ 263, down 7 percentage on the day, with a market capitalization of over $ 26 billion.

Ethereum 24-hour price chart Source: Cointelegraph's Ethereum price index