Bitcoin Watch: Cryptocurrencies make mild recovery, growth plans for ETH to continue

Bitcoin and Ethereum both rose around 6% in the last 24 hours, following both valuations collapsing in the last week. Bitcoin stands at around USD6400 at reporting time, while Ethereum edged back up to USD290.

Ethereum cofounder and ConsenSys Inc CEO Joseph Lubin, in an interview with Bloomberg, said he believes the recent cryptocurrency price collapse will not be constraint to further growth. Mr Lubin referred to crypto value surges of the past year as another bubble like the previous “six big bubbles, each more epic than the previous one, and each bubble is astonishing when they’re happening”.

He added: “So we can look at the price and make growth plans and projections, and we’re still on track, basically. So this is not unexpected”.

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