The fact that recently the cyber-assets’ prices dropped does not mean there will be an impediment in their potential increase. This is the opinion of the Ethereum’s co-constitutor and top exec of ConsenSys Inc. Joseph Lubin.
Lubin’s comments came out as Ether, the Ethereum’s coin, began recovering after the plunge, unseen for the past nine months.
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The Further Growth is Possible, Says Lubin
In a conversation with Bloomberg’s journalist, one of Ethereum’s founders Joseph Lubin stated that within the past year cryptos went up many times and this is a bubble, an enchanting one. He added that before this year six bubbles took place and each of them was more knocking out than the previous one.
Lubin added that if you looked at these highs under the microscope they would look like “pimples on a chart.”
The crypto-mogul said each time the bubble burst there was a rise in activity. This time the situation is no different. He anticipates there is a firm relationship between an increase in value and the development of the central infrastructure and in the crypto-ecosystem.
Lubin added that after a correction they usually more impressive potential for cryptos. And now the digital-asset state is better than around nine months ago.
In his opinion, the volatility of cyber-coins is related to speculative investors, particularly. Concerning how volatility affects Lubin himself, the CEO said there is nothing unexpected – he and his colleagues may look at the price and an increase in the forecast and stay afloat.
On August 14, the price of Ether dropped to a 9-month plunge of $255 per unit, as per Coinmarketcap.com. Before this Ether stayed below the margin of $300 only last year fall – in November. For the past three months, the Ether-coin has been steadily going downwards until it unexpectedly went down below $350.