Bitcoin and Ethereum face catastrophic doomsday scenario amidst market bullish turn.

JPMorgan analysts have issued a bullish bitcoin price prediction, stating that the recent U.S. banking crisis exposed the weaknesses of the traditional financial system and vindicated many bitcoin, ethereum, and crypto believers. The analysts predict that the next bitcoin halving in April 2024 could double bitcoin's production cost to around $40,000, creating a positive psychological effect. They also believe that the sudden growth of bitcoin-based non-fungible tokens (NFTs) called ordinals this year could provide another price support as they boost bitcoin miner revenue.