Vitalik Buterin, the founder of Ethereum, recently told CNN He’s not worried about the market crash, noting that we’ve had many such dips before.

The founder of Ethereum likened the current state of the crypto market to a bubble, saying that knowing when it will pop is difficult to predict, and added:

The market could have ended already.

It could end months from now.

We’ve got at least three of these big crypto bubbles so far.

Often the reason for the bubbles to stop popping is the occurrence of some event that indicates that the technology did not exist yet.

Read:Ethereum outflow from exchanges breaks record

The founder of Ethereum here means by the bubble the great momentum around the crypto market currently and the strong rise that has continued since the end of last year, which is similar to what happened in 2017.

Buterin currently owns 325,000 Ethereum, valued at approximately $895 million at current prices.

This is down 35% from its peak value of $1.4 billion on May 12th.

The crypto market is not a game:

Comparing the current scene with the scene during the last “bubble” four years ago, Buterin commented on this by saying:

Cryptocurrencies appear to be close to preparing for the mainstream in a way they weren’t four years ago.

Cryptocurrencies are not just a game anymore.

Things are different for Ethereum this time, especially with large players and institutions entering the scene and raising prices.

Although some industry watchers blame the highly leveraged trading in derivatives trading platforms for the recent market downturn.

Buterin added that although he’s not sure, there are Possibility To eventually catch up with Ethereum and overtake Bitcoin in market capitalization.

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At the time of writing this article, the market capitalization of Ethereum is estimated at $313 billion – 58% of the market capitalization of Bitcoin.

Regarding the “Elon effect,” the founder of Ethereum stated that it is something new on the scene, and its impact will eventually wane, and added:

Read:Billionaire Tim Draper Distributes $1 Million in Bitcoin to Promote Cryptocurrency Adoption

Elon Musk’s tweet is something that was introduced to the crypto space literally for the first time last year and this year.

I think it’s reasonable to expect a little crazy.

But I think the markets will learn.

Elon won’t have that effect forever.

Regarding Dogecoin, he told Buterin:

I don’t think Elon has some kind of malicious intent in any of this.

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