RATE Group | Bitcoin’s Price Increase Last Year Was A Bubble: Ethereum Cofounder Lubin
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Bitcoin’s Price Increase Last Year Was A Bubble: Ethereum Cofounder Lubin

23 Aug Bitcoin’s Price Increase Last Year Was A Bubble: Ethereum Cofounder Lubin

Posted at 04:16h in Ethereum News by

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Was the run up in bitcoin’s prices last year a bubble? 

Joseph Lubin, ethereum co-founder, seems to think so. He said as much in an interview with Bloomberg: “this is something that we’ve seen so many times since 2009 when bitcoin was invented. We’ve seen rises and falls [in cryptocurrency prices] and what many call a bubble and I would agree,” he said. According to him, there have been six big bubbles since bitcoin was released. “Each [bubble] was more epic than the last one but when you look back they seem like pimples on a chart because growth has been exponential,” said Lubin. 

Bitcoin’s biggest price bubble was back in 2013, when the cryptocurrency registered a phenomenal increase of approximately 5,992% in a year. For context, last year it increased by approximately 1840%. However, a look at bitcoin’s price chart since inception proves Lubin’s point about bitcoin’s price bubbles resembling “pimples” due to the digital currency’s constant…

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