Joseph Lubin, Ethereum co-founder and head of ConsenSys Inc. is convinced that in the past there have been six bubbles in the cryptocurrency market.
However, in his opinion, growth will continue after stabilization.
— Erik Schatzker (@ErikSchatzker) August 14, 2018
“We have already seen six bubbles, each more epic than the previous one. When they burst, it became a shock, but if you look back in time, we’ll see only the peaks on the chart. After each of the bubbles, a new activity has started in the market and this is what we are seeing now, ” Lubin said.
Also, the head of ConsenSys notes that volatility is created by speculative investors and price movement is not always an indicator of infrastructure improvements.
“We monitor the price, make assumptions and develop development plans. The behavior of the market is not unexpected, ” Lubin replied to a question about how volatility affects his company.
In his opinion, hundreds of protocols will coexist in the future in the industry, but Ethereum will continue to occupy a significant market share.