ETH/BTC Concerns Continue as Tuur Demeester Observes a Alarming Trend
ETH/BTC Comparable Ratios Faltering: Tuur Demeester Sounds Alarm Bells
Ethereum (ETH) and Bitcoin (BTC) are at crossroads, with their comparative value stagnating and even decreasing over the past few years. Veteran Bitcoin enthusiast Tuur Demeester, known for his Bitcoin Reformation theory, recently pointed out a troubling trend in this critical ratio. According to Demeester, ETH/BTC has plummeted by a staggering 36.4% within just two years, raising concerns among both crypto enthusiasts and investors alike.
Highlighting the long-term consequences of Ethereum’s transition to the proof-of-stake (PoS) consensus, Demeester emphasized the impact of this pivotal move on the ETH/BTC ratio. Ethereum successfully shifted from proof-of-work (PoW) to PoS approximately 18 months ago, in mid-September 2022. Following this transformative upgrade, Bitcoin emerged as the sole major cryptocurrency reliant on the PoW protocol, signifying a significant shift in the industry landscape.
Ethereum’s shift to PoS, as previously highlighted on U.Today, aimed to address the vulnerabilities associated with PoW, as acknowledged by Ethereum’s founder, Vitalik Buterin. Buterin noted that PoW was always considered a temporary phase, paving the way for the more secure and efficient PoS mechanism, ultimately replacing mining with staking in ensuring blockchain consensus.
The growing PoS ecosystem of Ethereum boasts over 1 million active validators, as reported by U.Today earlier in April, indicating a robust and evolving infrastructure within the ETH network.
Peter Brandt’s Bleak Projections for ETH/BTC Ratio
Contrasting perspectives from Demeester’s followers highlight varying metrics when viewed from different timelines. While a 10-year timeline would reveal exponential growth of 76,000%, the short-term outlook remains concerning. Esteemed trader Peter Brandt forecasts a continued downtrend for ETH/BTC, with a potential decline of 57% within three years, as per Demeester’s analysis.
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