Ethereum Co-Founder Joseph Lubin: Cryptocurrencies Are An Example of a Good Bubble Ethereum co-founder and CEO of blockchain company ConsenSys Joseph Lubin believes the cryptocurrency market has completely plunged into a bubble. He stated this in a conversation with Bloomberg.

Ethereum Co-Founder Joseph Lubin: Cryptocurrencies Are An Example of a Good Bubble

Ethereum co-founder and CEO of blockchain company ConsenSys Joseph Lubin believes that the cryptocurrency market has completely plunged into a bubble. He stated this in a conversation with Bloomberg.

Lubin clarified that the cryptocurrency market is an example of a "good bubble" that occurs when an outstanding technology appears, the value of which people are not able to fully understand immediately.

“This technology is so powerful and fundamental that it will change the way IT systems are built around the world,” he said..

Talking about the last jump in the bitcoin rate, when the price of the cryptocurrency rose above the $ 7,600 level, he noted that the correction will only increase the strength of the industry, which will continue to develop in the future..

Moving on to the recent ban on cryptocurrency exchange trading in China, Lubin said he sees it as a "pause" rather than a complete ban. In this decision of the regulators, he sees primarily positive news, since in this way they recognized the importance of the industry.

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