The ETH/BTC ratio is dangerously closer to the critical level, which in 2019 caused a magnificent increase in Ethereum. The technical indicators and proposals vitalik buterin feed hope for great conversion.
In short
- A few ETH/BTC is approaching a critical level of 0.016 BTC, the same level of September 2019.
- Currently, graphic configuration is almost identical to the 2019 configuration.
- Vitalik Buterin offers ambitious Ethereum straightening solutions.
Ethereum borders on the explosive threshold of 2019
Ethereum currently shows a significant weakness against bitcoin, with a pair of ETH/BTC, which is replaced around 0.019.
This configuration strangely resembles the September 2019 scenario, when ETH influenced 0.016 BTC before the opening output of almost 450 % in the next twelve months.
The similarities between these two periods are striking. The relative forces index (RSI) shows a comparable level of occurrence, while the course remains stubbornly under key mobile diameters.
In 2019, ETH/BTC dropped by more than 90% after the ICO collapse. Today, a couple has a decline of more than 80%from their summit to 2021.
Chartiste Jimie notes that the “parable of the mines”, which contains ETH since December 2021, now shows signs of exhaustion. The interruption of this resistance could open the path to significant reflection, although the risk of 0.016 BTC level remains.
The battle between optimism and skepticism
Vitalik Buterin, what -founder of Ethereum faces these challenges, introduced an ambitious proposal. It plans to simplify Ethereum architecture and set new standards to improve its speed and maintenance.
Objective: On the same time the simplicity of bitcoins within five years. This notification has been qualified as’ The most optimistic thing for ETH Several analysts.
Graphic analysis reveals an attempt to release the “lower parable” active since December 2021.
Chartiste Jimie observes signs of exhaustion of this negative trend. ” We saw the end of this parable “He says while remarks that failure could lead to a fall of around 0.016 BTC.
However, critical voices are growing. Adam back, a pioneer in evidence of bitcoin work, remains skeptical.
It believes that buterin neglects basic defects by focusing on superficial simplification.
At this point, just emptied ETH to reach zero and buy bitcoins.
Could history repeat? The next few weeks will be essential for determining whether the Ethereum can reproduce their performance of 2019. Investors carefully monitor this psychological level and realize that it could mean a decisive turning point for the second global crypto.
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Passionate Bitcoin, I like to explore meanders blockchain and cryptos and share my discoveries with the community. My dream is to live in a world where privacy and financial freedom is guaranteed for everyone, and I firmly believe that Bitcoin is a tool that can make it possible.
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.
