Co-founder of Ethereum and CEO of ConsenSys Inc. Joseph Lubin in an interview for Bloomberg said that he does not consider the recent collapse in the crypto currency market significant enough for the industry to stop developing.
Lubin says he believes that last year’s price spikes were just another bubble, like the previous “six big bubbles, each of which is even more epic than the previous ones.
He added that on closer examination these peaks look like “pimples on the diagram.” Lubin said that every bubble, and the recent one in particular, contributes to the growth of activity in the industry.
Lubin explains the volatility of a large number of speculative investors present in the region, but this is not necessarily an indicator of improving the basic infrastructure.
Yesterday, Ethereum (ETH) fell to an year low and traded around 250 US dollars. The last time, the price of this crypto currency fell below the $250 mark in early September 2017. Today, the price has slightly adjusted and is around 300 dollars.