以太坊（ETH）令牌正在接近针对比特币（BTC）的关键价格区域

以太坊的以太（ETH）代币正在接近对比特币（BTC）的关键价格区，这在历史上标志着大量反弹的开始。

Ether (ETH) price is approaching a critical price zone against Bitcoin (BTC), which historically marked the beginning of a massive rebound.

Ether（ETH）价格正在接近针对比特币（BTC）的关键价格区，这在历史上标志着大量反弹的开始。

ETH/BTC fractal from 2019 hints at bottom

2019年以来的ETH/BTC分形提示底部

The ETH/BTC pair, currently trading around 0.019 BTC, is nearing 0.016 BTC – the exact level it reached in September 2019 before rallying nearly 450% over the following year.

ETH/BTC对目前的交易量约为0.019 BTC，接近0.016 BTC，这是2019年9月达到的确切水平，随后在次年涨到近450％。

The current ETH/BTC setup shows striking similarities to 2019, with both periods characterized by:

当前的ETH/BTC设置显示与2019年的惊人相似之处，这两个时期的特征是：

Relative strength index (RSI) in oversold territory.

超售领土的相对强度指数（RSI）。

Long periods of price trading below key moving averages.

长时间的价格交易低于关键移动平均值。

Multi-year declines from previous highs.

以前的高点下降了多年。

In 2019, ETH/BTC plummeged over 90% in the two years prior to the September 2019 low. This decline was fueled by the crypto winter of 2018 and the fallout from the 2017 initial coin offering (ICO) boom.

2019年，ETH/BTC在2019年9月低点之前的两年中下降了90％以上。 2018年加密货币冬季以及2017年初始硬币产品（ICO）繁荣的后果引起了这种下降。

As of 2025, the pair is down over 80% from its 2021 peak, amid ongoing concerns over Ethereum’s switch to proof-of-stake (PoS), rising competition from other blockchains, and Bitcoin’s increasing dominance as an institutional asset class.

截至2025年，这对夫妇的2021年峰值下降了80％以上，这是由于人们对以太坊转向二手证明（POS）的持续担忧，其他区块链的竞争增加以及比特币作为机构资产类别的统治地位。

In response to the growing worries, Buterin proposed new architecture and protocol-wide standards to make Ethereum simpler, faster, and as maintainable as Bitcoin within five years.

为了应对日益增长的担忧，布特林提出了新的建筑和规程范围的标准，以使以太坊在五年内与比特币更简单，更快，可维护。

One analyst described Buterin’s proposal as “the most bullish thing for ETH.”

一位分析师将Buterin的提议描述为“对ETH的最看涨的事情”。

Is ETH/BTC forming bullish divergence vs. bear parabola?

ETH/BTC是否形成看涨的分歧与熊抛物线？

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.

看涨的希望是因为ETH/BTC试图摆脱其多年的“看跌抛物线”。自2021年12月以来，这种电阻曲线一直在限制这对夫妇的上行尝试中，但截至5月3日，这表现出疲惫的迹象。

“Might be able to see an end of this bearish parabola,” said chartist Jimie.

“也许可以看到这种看跌抛物线的结束，”凯奇主义者吉米说。

He added that if the curved resistance holds, ETH/BTC could continue dropping toward 0.016 BTC – the same level where it bottomed in September 2019 before rallying by roughly 450%.

他补充说，如果弯曲阻力持有，则ETH/BTC可能会继续降至0.016 BTC，这是2019年9月触底的水平，然后集会大约450％。

Another angle is that if the bearish parabola breaks, it could open the door for a rally toward 0.030 BTC.

另一个角度是，如果看跌抛物线破裂，它可以打开朝着0.030 BTC的集会打开门。

Flush ETH and buy Bitcoin, says Adam Back

亚当回来说

But Bitcoin’s proof-of-work pioneer, Adam Back, isn’t buying into Buterin’s vision for Ethereum’s future.

但是比特币的工作证明先驱者亚当（Adam Back）并没有购买Buterin对以太坊未来的愿景。

Instead, he argues that Buterin is overlooking even deeper design flaws in his proposal to simplify Ethereum in the coming years.

取而代之的是，他认为，布特林在未来几年简化以太坊的提议中忽略了更深的设计缺陷。

In a critical analysis, Back highlights what he sees as the fundamental flaws in Ethereum’s architecture, suggesting they render any attempts at simplification futile.

在批判性分析中，Back凸显了他认为以太坊建筑中的基本缺陷，这表明它们使任何简化的尝试都徒劳无功。

According to Back, Ethereum’s account-based system, used for tracking tokens and balances, adds unnecessary complexity compared to Bitcoin’s simpler UTXO (unspent transaction output) model, which is used for managing coins and transactions.

根据Back的说法，与比特币的更简单的UTXO（Untpent Transaction Outper）模型相比，用于跟踪令牌和余额的基于以太坊的基于帐户的系统，该系统添加了不必要的复杂性，该模型用于管理硬币和交易。

This growing complexity, he claims, increases technical risks and makes Ethereum harder to scale and secure.

他声称，这种日益增长的复杂性增加了技术风险，并使以太坊更难扩展和安全。

He further criticizes the shift to PoS, arguing that it has concentrated power among insiders by redirecting miner rewards, which previously flowed into the network with each block, to large tokenholders.

他进一步批评了向POS的转变，认为它通过重定向矿工的奖励来集中力量，该矿工的奖励以前以每个块的方式流入了网络，向大型代币持有人。

“At this point, just flush ETH before it hits zero and buy Bitcoin,” Back concludes, suggesting no upgrade can fix what he views as Ethereum’s flawed foundation.

“在这一点上，只需冲洗ETH，然后才能达到零并购买比特币，” Back总结道，建议没有升级可以解决他认为他认为以太坊有缺陷的基础的内容。