Clearly cryptocurrencies have suffered some severe setbacks lately. The last two days have been absolutely brutal. Many observers argue that we are now in a bearish market trend for the digital assets. Yet, not all of the important voices in the cryptocurrency universe are downbeat these days. They believe mass adoption could happen sooner then later.
In fact the co-founder of Ethereum says that these are “exponential times” for cryptocurrencies and the blockchain. Joseph Lubin argues that there will soon be a massive surge in the cryptocurrency markets along with mass adoption. In fact, he does one better by arguing that mass adoption is already happening.
Not the First Digital Assets Market Meltdown
Lubin feels that the present fear-based selloff will soon pass. Unfortunately, it is all too common in this sector. He also reminds that this is not the first crash in cryptocurrencies by a long shot. Bitcoin hails back to 2009.
In that span of time, the cryptocurrencies have suffered through six different meltdowns. As each bubble burst, it only saw a bigger one inflate and subsequently explode. Each has been “more epic’ than the last one. Today looking back at them, they are merely tiny blips on the long term charts.
This is because the growth in the various cryptocurrencies and market as a whole has been exponential. There is an advantage to these bubbles, as they attract more entrepreneurs to the cryptocurrency universe. Additional developers come calling and money pours into the space. Besides this, they offer a greater chance to develop value and construct critical basic infrastructure for the crypto-verse.
Adoption Is Assured Eventually
According to Lubin, mass level adoption is already going on all around us everywhere today. There are countless corporate connections that join forces with the main cryptocurrencies like BTC, ETH, XRP, and TRX regularly. Some of these big names are IBM, Hitachi, Citigroup, Barclays, Overstock.com, the Bitcoin Superstore, and so many more.
At the same time, another method of attack involves the decentralized Internet. The two sides of the equation are rapidly expanding. Even the ecosystem of startups like fintech is exploding. To Lubin, this is what it means to live in “exponential times.” Now it’s just a matter of getting through the current altcoin apocalypse.