JPMorgan Predicts Ether to Outshine Bitcoin in 2024

JPMorgan analysts have expressed skepticism about the optimism surrounding Bitcoin and the potential approval of spot Bitcoin ETFs by the SEC, citing weak demand for existing ETFs in Europe and Canada. They believe that spot ETFs are more likely to draw from existing Bitcoin investments rather than bring in fresh capital. The report also suggests that the upcoming Bitcoin halving has already been priced in and will not provide the expected boost. In contrast, JPMorgan predicts that Ether could outperform Bitcoin in 2024 due to an upgrade to the Ethereum blockchain, which aims to increase throughput and decrease transaction fees. The analysts anticipate a potential revival in venture capital funding in the crypto industry, which could mark the end of the "Crypto Winter."