Joseph Lubin, a key member of and contributor to the Ethereum community, and the founder of the ConsenSys startup, has made an interesting comment regarding the current condition of the crypto market. In a recent Tweet, he opined that the cryptobottom has been reached in 2018 itself. This is a crucial comment to come from a crypto market veteran as well as specialist like Lubin.
If we have indeed managed to see the rock bottom of the crypto market already, in 2018, it naturally means that better days are coming soon. Provided the crypto bottom has finally been hit, we can hope to move out of the crypto winter and see a brighter and far more bullish trend in the year that is coming up soon. Earlier, the Binance CEO had also predicted that 2019 will be a much happier year for crypto, with crypto adoption climbing the charts and taking the industry towards a healthy upswing.
Even if we are to believe these accounts and hope for a bullish year ahead, the signs of the festive spirit is yet to touch the crypto market itself. Today itself, we reported how the Bitcoin price is dipping quicker than Mercury. While the top cryptocurrency of the market has reached a price point that is currently under $3900, the overall market cap of the crypto coins has also shrunk below the $130 billion mark it had scaled earlier this week. Losses have not been too drastic but they have continued the spate of disappointments that have marked the crypto market this year. If Lubin’s comment is anything to go by, this should one of the last phases of disappointing headlines we’ll have to see in a while.
Since the high of 2017 passed, we have seen few heartening headlines about crypto prices. While there have been a few upswings here and there, 2018 has largely been dominated by a bearish tendency. Has the worst truly come to pass? Come 2019, will we finally see a more self-assured crypto landscape? Lubin clearly seems to think so.