In a series of tweets issued on Friday morning, Joseph Lubin, the co-founder of Ethereum (ETH) and founder of ConsenSys, has come out to officially call a bottom for the cryptocurrency market.
Joseph Lubin said that ConsenSys had been on the receiving end of an epic amount of conjecture and preemptive paranoia. According to him, ConsenSys isn’t poised to fold.
Despite the restructuring, ConsenSys continues to invest in external projects and hire for internal projects at the firm’s core, added Lubin.
While it’s unclear whether the health of ConsenSys really has any barrings on the direction of the crypto market, Lubin is adamant that the underlying fundamentals indicate a bottom has been made.
He further draws attention to the fact that he remains to be bullish on the core Ethereum development and on the continued maturation of the token economy.
He further claimed that the unprecedented (“epic”) amount of fear, uncertainty, and doubt (FUD) from “our friends in the 4th and crypto-5th estate” indicates that a bottom for 2018/2019 is likely in.
This is far from a baseless claim, as there have been a number of prominent startups, personalities, and analysts that have thrown in the towel in recent months.