Last week the market of cyber assets went through an unpleasant turmoil, seeing significant falls in comparison to the first week of March.
For example, bitcoin started falling after March 7 from $10,656 to $8,814 on March 12. Ethereum, in its turn, dropped from $794 to $660 almost within the same time frames, as per Coinmarketcap.com data.
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As usual, lots of crypto bears started stirring up conversations about a crypto bubble bursting.
However, Canadian entrepreneur and Ethereum’s co-founder Joseph Lubin does not agree with that. In a conversation with Bloomberg TV-presenters, he called such views purblind.
Ethereum’s co-founder speaks out
Lubin seems to be the person who feels free on the crypto market just like a fish in water.
Nevertheless, before he commented on the bubble-talks, Ethereum’s co-founder emphasized that he and his colleagues are so much concentrated on developing decentralized apps on the ethereum platform, that they hardly find time to consider bitcoin issues.
Then, he added:
“But I would argue that we’ve seen a correction in our space, calling it a bubble to have been popped is a little bit shortsighted.”
According to Lubin’s words, what is happening is still the early stage of crypto market development.
No reason for not being bullish
Also, Lubin seemed to be positive about the whole thing in the crypto ecosystem, despite slight decreases in cyber currencies prices.
In particular, Ethereum’s co-founder said that he and his associates are more than satisfied with what is going on in the field of regulation.
Regardless of the drop in market values, Lubin appears happy with the direction that the industry is taking, particularly in relation to regulations.
In spite of the fact that there are lots of scam schemes in the niche, Lubin said that it is normal for a halt to take place there.