Joseph Lubin Declares He’s Calling the “Cryptobottom Of 2018”

In a tweet which was published on the 21st of December, Joseph Lubin said that he is calling the “cryptobottom of 2018.” Joseph Lubin is the co-founder of Ethereum (ETH) – one of the most popular digital currencies in the market. Lubin said that the bottom of the crypto market is marked by an enormous amount of FUD – fear, uncertainty, and doubt. He said that the FUD was more from social commentators and industry media. Lubin also refers to these pioneers of FUD as “our friends in the fourth and crypto fifth estates.” Joseph Lubin is also the founder of ConsenSys – a software company that is based on the blockchain of Ethereum.

ConsenSys Reportedly Lays Off Workers

There is a recent report that the firm is laying off some of its workers. In response to this, Lubin said: “ConsenSys is still healthy and is engaging in a rebalancing of activities and priorities which began about nine months ago.” In the role of the firm as a venture firm and a blockchain tech incubator, Lubin said the firm continues to invest in projects. He said the ConsenSys is hiring for internal projects which remain fundamental to their forward looking-business. Still on his tweet, the co-founder of Ethereum complained about “an enormous amount of preventive and conjecture paranoia” regarding “situations bloggers and journalists don’t have real data for, understanding of, or actual insight into.” The co-founder of ConsenSys reaffirmed his optimism about the future of Ethereum and that of the company. In a statement, he said: “The sky is not falling. From my point of view, there is light at the end of the tunnel as the future looks very bright. Taking a look into 2019, if you could see the landscape through my eyes, you would have to put on shades. According to speculations that surfaced earlier this week, referencing sources similar to the matter, ConsenSys is cutting off support for startups it previously backed. The report states that the firm is spinning out some startups without financial support. According to the report, the number of staff to be laid off could be as much as fifty to sixty percent of the 1,200 person workforce of ConsenSys. This is a very large number and it could cause a major shift in the company. However, Lubin said there is no such thing and the company is doing well. About a week ago, Cointelegraph reported that in comparison to the layoffs in more significant jobs in different industries across the globe, the present decline in the digital currency markets and ensuring jobs layoffs in associated firms seem relatively benign. Back in September, the other co-founder of Ethereum – Vitalik Buterin – strongly emphasized that there is no chance that the blockchain and digital currencies space will ever see a growth of one thousand times again. He said this is because the crypto and blockchain space now has more awareness and such growth will never occur again. Ethereum (ETH) Price Today – ETH / USD
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At the time of writing, Ethereum (ETH) is changing hands at $129 after an increase of about 17 percent over the past twenty-four hours. The digital currency currently has a market cap of $13.26 Billion and its trading volume over the past twenty-four hours is $3.35 billion.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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