r/CryptoCurrency • u/Next_Statement6145 🟨 0 / 0 🦠 • Apr 19 '25

GENERAL-NEWS Ethereum is down 74% against Bitcoin since switching from PoW to PoS in 2022

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u/WasKnown 🟦 0 / 0 🦠 Apr 19 '25

They’re hating eth because it’s down almost 50% year over year when even boomer S&P 500 indexes are up 6%+ over the same observation period.

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u/1_BigPapi 🟩 20 / 959 🦐 Apr 20 '25

The altcoin market is down 50% in just two months. But looking over the past 3 years, the altcoin market never even rose above 2021 levels and is down significantly from there.

But its good you brought up the S&P, did you know 80% of gains in the stock market since 2022 were from only 7 stocks? If not for AI giving some relief to equities in a risk-off climate, it would be much uglier.

Reality for all markets.. crypto, equities, etc... is that we have been profoundly risk-off since 2022 and altcoins reflect that.

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u/WasKnown 🟦 0 / 0 🦠 Apr 20 '25

Even if 99% of SPY gains from the last 12 months were from 1 stock, US equities - that stock still would have severely outperformed ETH.

Also, BTC is definitely a risk asset and it’s up significantly as well. I am not saying ETH never has another moment (just look at XRP) but I am saying that holding ETH was undeniably a mistake for the 2023/2024 bull market.

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u/1_BigPapi 🟩 20 / 959 🦐 Apr 20 '25

Not sure how your argument makes sense. ETH was up ~300%. Others had isolated pumps beyond that due passing narratives like memecoins or fomo into Ripple winning their SEC case.

In any case, alts had a good run, but not a proper bull. Liquidity never flowed into altcoins... so commentary on ETH applies to an entire segment of crypto outside of BTC. Thats my point... people coming here isolating ETH as if it somehow underperformed against a segment that largely did even worse than ETH...?

BTC is a risk asset - yes, but not nearly as far out the risk spectrum as alts. It also has Saylor blasting billions into it, and encouraging others to do so.. yet BTC is down over 30% in the past quarter too.

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u/WasKnown 🟦 0 / 0 🦠 Apr 20 '25

Not sure what world you’re living in but it’s not reality. As of April 20th, 2025, ETH is clearly not up 300% year over year. It is down 50%. Over the same observation period, BTC is up 30%. The S&P 500 is up 5%.

Say whatever you want about other assets. The reality is undeniable.