Ethereum (ETH) – Joseph Lubin, one of the co-founders of the second largest cryptocurrency from the market capitalization Ethereum and current CEO of ConsenSys Inc., said Bloomberg in a & # 39 interview published yesterday that does not worry about the fall in the price of cryptocurrency or the overall impact it will have on the growth of the sector.
As investors around the world are triggered by double-digit losses to extend a market that is already mandatory in 2018, Lubin is confident that the industry will continue its adoption and growth gear that has characterized 2018 despite Otherwise bearish atmosphere. In particular, Lubin cites the massive bull run last December, which faded in the first few weeks of 2018, as bubble-like developments similar to price increases in the past. As Lubin points out, the past presence of BTC and cryptocurrency in general at price spiking, followed by a crash (thus creating more bubbles over time) is only part of the course and each time gets slightly worse. While the bubble is a terrible experience for investors who have to survive the bear market, this does not mean that industry is failing in terms of development or adoptive results.
"You are big bubbles, each one more epic than the last, and every bubble is amazing when they are happening."
Although it is consuming everything during the bubble, looking back at reflux and the flow of the market reveals a more stable price movement, which Lubin calls "pimples" on paper. He also finds, in a small part, the severity of the accident to be indicative of the growth of the industry. The most recent crash has been much more serious due to the fact that cryptocurrency is spreading, ICOs are on the rise, more projects are being developed with intriguing concepts that force investors to invest money,
"… we build a & # 39; More fundamental infrastructure, we see a correction, and the potential becomes even more impressive … I fully expect that there is a strong correlation between the price increase and the growth of the fundamental infrastructure in the area of u200b u200b u200b u200b u0026lt; ecosystem and growth of development in the ecosystem We are probably two orders of magnitude larger than a community of developers compared to eight or ten months ago. "
Lubin, like other leading cryptocurrency authorities, blames part of the crash and price volatility on the large number of speculative investors that fluctuate the market, creating unhealthy conditions and short-sighted objectives. Lubin, who contributed to the co-foundation of Ethereum alongside the exclusive Vitalik Buterin, focused primarily on the growth of the cryptocurrency industry in terms of utility and building greater adoption rather than through a speech focused on price. Having the market dominated by speculation-oriented investors is not an adequate indicator of how the current industry and underlying technology is working,
"So we can look at the price and make growth plans and projections, and we're still on the good way, basically, so this is not unexpected. "