The Crypto market will not collapse, Ethereum Cofounder Claims
Joseph Lubin, the co-creator of Ethereum was recently selected to ensure participants in the crypto-market. He said the market was not on the verge of collapse. This was during an interview with CNBC, which was intended to offer some information on the encrypted market.
Details of the interview
Lubin That said, in the last decade, the crypto ecosystem had seen ups and downs. However, he said that the market has been the strongest since it was founded. For example, he indicated the ongoing projects within the ecosystem and the number of people within it. He added that the base for the ecosystem was built right now.
On this, Lubin was right. The cryptographic base is developing. For example, Bitcoin has a basic work developed. The wallet exists, as with most of the crypts. There are also numerous exchanges and ATMs in various countries It supports Bitcoin. At the moment, it is quite easy to make purchases with Bitcoin using only a smartphone. Something that was not possible when cryptography started about a decade ago.
Lubin on regulation
On this subject, Lubin said that there was still uncertainty on the part of regulators. Then he went on to talk about how the blockchain would decentralize existing systems. He talked about finance, commerce and custody symbolized as some of the places where the blockchain was taking hold. He also added that regulatory compliance is no longer a problem in various regions.
Ether is Crypto Fuel
Lubin also discussed what differentiated Ether from others. He said that Bitcoin was encrypted. However, ETH was a hybrid of cryptography. Lubin said it was a fuel. He also noted that Ethereum was a platform for various decentralized applications. According to him, such platforms would never have fallen under the control of regulatory bodies. In his concluding statement, he stated that attention should be focused on the regulation of the use of technology. The focus should not be regulation of technology.
Current market conditions for ETH / USD
At this time, price behavior offers a very narrow trading interval. This is mainly due to the suppression of the entire market. Commercial volumes hit the lowest level in 2018 a few days ago. In the last days, the range was only 8 dollars. The maximum was at $ 210 and the minimum was $ 202.
The price change was minimal. This suggests that traders can expect a price breakout. If the bull manages to overcome the $ 210 barrier, it could be a first shift towards $ 250. There was a lot of support to keep the price above $ 200. However, if it goes below this, it could mean disaster for the whole market. Subsequently, it could rest between $ 180 and $ 160.
Everyone in the encrypted market can agree that the encrypted ecosystem is too strong to collapse. However, it is worth noting that the bull run that was seen in December 2017 may not happen. Although there is a bull run, it will not be as big as that of December 2017.