Ethereum vs Bitcoin: Why ETH Has Struggled for Nearly a Decade

Ethereum vs Bitcoin: Why Ethereum Can’t Keep Up in Recent Years

Ethereum vs Bitcoin – Ethereum (ETH) has only outperformed Bitcoin (BTC) on 15% of all trading days since its inception nearly a decade ago, according to recent insights from analyst James Check. The data reveals that, since ETH began trading in mid-2015, it has underperformed BTC on approximately 85% of trading days.

Ethereum’s Early Performance and Brief Resurgence

From mid-2015 to mid-2017, ETH significantly outperformed Bitcoin, with the ETH/BTC ratio heavily in favor of Ether during this period. The ratio experienced a couple of short-term surges in late 2019 and early 2020, when the price of ETH briefly surpassed that of BTC. However, since then, Bitcoin has dominated the market, maintaining a consistent advantage over Ethereum.

ETH/BTC Ratio Hits Five-Year Low

As of April 9, 2025, the ETH/BTC ratio has fallen to a five-year low of 0.018, reflecting a sharp decline in the price of Ethereum relative to Bitcoin. This is the lowest the ratio has been since December 2019 when ETH fell to $125 and Bitcoin traded around $7,000.

Ethereum’s Struggles in 2025

Recently, Ethereum has continued to face difficulties, with its price dipping below $1,450, a significant drop from its 2018 market cycle peak. In contrast, Bitcoin has seen a less severe decline, falling 6% to $75,000, still well above its seven-year low during the 2018 market correction.

Concerns Over Ethereum’s Growth and Network Activity

Ethereum supporters have expressed concerns over the network’s stagnation, as the number of active ETH addresses has remained relatively unchanged for the past four years. However, experts point out that much of the growth has shifted to Ethereum’s layer-2 scaling solutions, which have seen substantial increases in value locked on-chain.

As ETH continues to struggle, analysts suggest that it could be nearing an oversold condition, with a potential bottom around the $1,000 level, based on technical indicators observed in previous market cycles.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.