Ethereum nears key Bitcoin price level that last time sparked 450% gains

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Related: Ethereum to simplify crosschain transactions with new token standardsOne analyst called Buterin’s proposal “the most bullish thing for ETH.”The bullish hopes come as ETH/BTC attempts to break free from its multi-year “bearish parabola.” This resistance curve has been instrumental in limiting the pair’s upside attempts since December 2021 but showed signs of exhaustion as of May 3.

Source: X/Adam BackHe also warns that Ethereum’s shift to PoS has concentrated power among insiders by redirecting miner rewards to large tokenholders.“At this point, just flush ETH before it hits zero and buy Bitcoin,” he wrote, suggesting no upgrade can fix what he views as Ethereum’s flawed foundation.

Flush ETH and buy Bitcoin, says Adam BackSkeptics like Bitcoin’s proof-of-work pioneer, Adam Back, argue that Buterin is overlooking deeper design flaws while proposing to simplify Ethereum in the coming years.

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Article Details

Author / Journalist: Cointelegraph by Yashu Gola

Category: Crypto

Markets: United States

Topics: 2019 Price Growing Setup Ethereum Oversold Bitcoin Current Eth/btc Years Ethereum’s

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-03 @ 18:45:00 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 429 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28337738

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About Coin Telegraph

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