Ethereum’s Ether (ETH) is nearing a critical price level against Bitcoin (BTC), closely approaching the 0.016 BTC mark. History shows that reaching this point in 2019 led to a significant rise of 450% in value. Discussions are ongoing about Ethereum’s scalability and proposed changes from co-founder Vitalik Buterin, which some see as a positive shift. Critics, however, warn about fundamental design flaws in Ethereum’s system, suggesting caution for investors.
Ethereum’s Ether (ETH) is currently edging closer to a critical price level against Bitcoin (BTC) that previously marked the beginning of a significant market rebound. Right now, the ETH/BTC trading pair is hovering around 0.019 BTC, but it’s inching nearer to the 0.016 BTC threshold, a level it reached during the September of 2019. Interestingly, that was followed by a staggering 450% increase over the next year.
The current situation surrounding the ETH/BTC pair rings familiar to the patterns seen in 2019, where both periods displayed a notably oversold relative strength index (RSI) and lengthy durations spent below essential moving averages. In 2019, the ETH/BTC pairing witnessed a severe decline—over 90% in fact—largely due to the fallout from the initial coin offering (ICO) bust. Fast forward to 2025, and this pair is now down over 80% from its peak back in 2021, primarily due to growing doubts. Concerns revolve around Ethereum’s switch to proof-of-stake (PoS), along with increasing competition and Bitcoin’s rising stature in the institutional landscape.
Counteracting these doubts, Ethereum co-founder, Vitalik Buterin, has floated ideas for a new architecture and protocol-wide standards aimed at making Ethereum simpler and more efficient, aiming for parity in maintenance with Bitcoin within the next five years. An analyst has even gone so far as to describe Buterin’s suggestions as “the most bullish thing for ETH.”
The market is watching closely as ETH/BTC tries to escape a prolonged downward trend, referred to as a “bearish parabola.” This resistance has been a significant barrier to any upward movement since December 2021; however, recent signs of fatigue in this trend emerged as of May 3. Chartist Jimie suggested that a break from this bearish trend may be in the works, yet he also cautioned that if the resistance continues to hold, ETH/BTC could plummet towards 0.016 BTC—the very level where it bottomed out back in September 2019.
On the flip side, criticisms of Buterin’s plans are surfacing from figures like Adam Back, a pioneer of Bitcoin’s proof-of-work approach. He argues that Buterin is neglecting fundamental design issues while suggesting simplifications for Ethereum’s complex infrastructure. Back is critical of Ethereum’s account-based system, seeing it as unnecessarily complicated compared to Bitcoin’s unspent transaction output (UTXO) model. He warns that such complexity introduces technical risks, making it more challenging to scale and secure Ethereum in the long run.
Back has suggested a rather dire course of action for Ethereum investors: “At this point, just flush ETH before it hits zero and buy Bitcoin,” he said, highlighting a belief that no proposed upgrades can redeem what he sees as inherent flaws in Ethereum’s foundational structure.
It’s crucial to note that this article doesn’t serve as investment advice. Every trading decision carries inherent risks, so readers should conduct diligent research before making any choices.
