Crypto Bubblers Predict It’s About Time For The Bear To Hibernate

ConsenSys’ Joseph Lubin remains cool despite the bear market’s lengthy stretch.

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Ethereum Co-Founder and ConsenSys Founder Joseph Lubin recently sat down in an interview with premier media organization Bloomberg, expressing how he sees the good in the crypto bubbles, even during the times when they seemed to have been pricked.

Like Pimples

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Joseph Lubin, Ethereum Co-Founder and ConsenSys Founder

“They look like pimples on a chart.”

That’s how Ethereum’s Co-Founder Joseph Lubin described the crypto bubbles in the past. Consequently, he finds these “pimples” fascinating—something that many teenagers nowadays don’t agree with.

There were about six bubbles in the past, with each being bigger than the last one, Lubin said. And in each time, the crypto world would witness a surge in activities and innovations which could not have happened otherwise.

Now, every bubble has been pricked by corrections. Nevertheless, Lubin underscored that even during the pricking times, a lot of innovations have been made, and a whole lot of people have joined to become part of the ever-expanding world of cryptocurrency and blockchain technology.

What’s even more hilarious is that Lubin finds the term “price collapse” funny, primarily because the crypto veteran has experienced the occurrence many times since 2009, only to see the crypto world still standing strong and reaching new heights.

Lubin expressed:

“We feel the exponential increase in activity in our [blockchain] ecosystem. It is overwhelming—what’s going on in terms of our different product projects, in terms of new scalability technologies, new teams, projects, developers that are entering our ecosystem, [as well as] new companies that have gotten comfortable with our ecosystem.”

Final Stretch

Other crypto experts express the same sentiment, with Chris Yoo, a portfolio manager at Black Square Capital, saying to Bloomberg that the crypto market “appears to be in its final stretch of its bearish state.”

Also, Coinbase CEO Brian Armstrong said during the recently-concluded Bloomberg Players Technology Summit that amidst being in the bear market, the crypto juggernaut has seen fresh undergrowth each time. He admits that “this technology is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau.

Armstrong also took the time to discuss a short “crypto 101” wherein he defined what cryptocurrencies are. Furthermore, he allowed the crowd to understand what made him leave his job at Airbnb and go all-in on cryptocurrencies.

For other details regarding Armstrong’s interview, you may check out this article from our crypto news archive.

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