Joseph Lubin: The Bitcoin Bubble Has Not Bursted Yet

The founder of Ethereum advised not to be too short-sighted about Bitcoin.

Consensys Chief Executive Officer and Ethereum co-founder Joseph Lubin said that it's "hard to say" whether Bitcoin lost its appeal, but rejected claims that Bitcoin's bubble had "burst."

"I would say that we see a correction … (see) a burst of blister is a little short-sighted," Lubin said.

Then Lubin went to Ethereum: "We are focused on creating decentralized applications on the Ethereum platform and we are much less focused on crypto-currencies such as Bitcoin … I think that our ecosystem is building a fundamental system and this is very, very early (stage)," remarked Lubin.

Lubin said that there are many "good" projects, but there are also many "bad" and "fraudulent" projects that are built on the Ethereum platform and he considers it "completely reasonable" for the stage at which the ecosystem is located, reportsExpress.

It is unlikely that Lubin's words will reassure most investors in Bitcoin, as the price of crypto currency continues to fall, now it fluctuates within 9000-9500 dollars.

Ethereum, however, is not better, its price also goes down and keeps now within 690-693 dollars.

Author: Evgenij Novožilov, Analyst Freedman Club Crypto News

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