Ethereum co-founder Vitalik Buterin believes that the cryptocurrency market is going through the final stages of a “bubble”.
Commenting on the tweet, which was about the catastrophic drop in traffic to a leading cryptocurrency platform USA – Coinbase, Buterin said that he sees nothing surprising in this, as in his opinion “we are at the end of the crypto bubble.”
Is anyone surprised? We’re at the tail end of a crypto bubble.— Vitalik Non-giver of Ether (@VitalikButerin) 31 July 2018
This is not the first case when Buterin commented on the extreme volatility of the cryptocurrency market. Last month he, in particular, stated that:
Unfortunately there is no “cure” for bubbles, in addition to let them grow and burst.
CEO of Coinbase, Brian Armstrong about a month ago said that the market downturn is a great time to refocus and work on the main task of which is the adoption of cryptocurrencies.
The cryptocurrency industry is not unlike any other area – too many UPS and downs (but everytime the price higher and higher). There were 3 or 4. It’s scary the first time but for those who work in this area, there is nothing surprising or frightening.
During the boom, people behave irrationally-optimistic, but during the recession – on the contrary. But the reality is always somewhere in the middle and correlates with how cryptocurrencies are used as means of payment.
Many years later I even learned how to get pleasure from these cycles. They are perfectly save the industry from “unnecessary” people.