Buterin, who lost his billionaire status in the latest market correction, said that he was not bothered about the crash. In his defense, he noted that this wasn’t his first. In agreement, the crypto industry has witnessed several market crashes, with the most notable being the pullback of last 2017/2018.
The Ethereum boss likened the current market activity to a bubble that is “notoriously hard to predict.” According to him, the whole façade “could have ended already” or “it could end months from now.” He added:
Crypto is here to stayButerin also compared the current market crash with similar events that played out four years ago. He noted:
Some industry experts have blamed the latest market downturn on leveraged trading on derivatives exchanges. And of course, Tesla’s CEO Elon Musk also played a part in the sad turn of events.
Regarding the Musk effect, Buterin opined that the billionaire’s influence on the crypto market will eventually diminish.
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Source: Cryptocurrency - investing.com
