Joseph Lubin still optimistic despite the bearish market

Joseph Lubin, one of Ethereum’s co-founders, has shared his optimism that the cryptocurrency market is due for a rally in spite of the dropping prices.
Lubin gave an interview with Bloomberg, claiming that the current downtrend is just another bubble in the crypto ecosystem and that it is just a historical sign that will ultimately pay off for the market as a whole
The Ethereum co-founder explained that bubbles are the ultimate marketing tool to provide cryptos to a wider audience:
“We’ve seen six big bubbles, each more epic than the previous one” and that “each of these bubbles has the advantage of bringing attention to our ecosystem, it brings entrepreneurs, it brings developers, it brings money.”
Lubin states that the blockchain bubble is akin to the Dotcom bubble from the early 2000’s. According to him, the Dotcom bubble occurred during a time when technological news was not as rampant as today’s high paced news coverage. With the more eyes on the nascent industry, the more bubbles to expect.
Lubin expanded on the growth of a system:
“…we build more fundamental infrastructure, we see a correction, and the potential gets even more impressive… I absolutely expect that there is a strong correlation between the rise in price and the growth of fundamental infrastructure in the ecosystem and the growth of development in the ecosystem. We are probably two orders of magnitude bigger as a developer community than we were eight or 10 months ago.”
Lubin is not alone in his optimistic outlook even in a downturned market. Many leading enthusiast and cryptocurrency figures, with the likes of Coinbase’s Brian Armstrong and Fundstrat’s Tom Lee voicing that the market will rally with huge gains.