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JPMorgan Says ETH will Outperform Bitcoin: Will The Flippening Ever Happen?
KEY TAKEAWAYS
• Ethereum could do surpass Bitcoin in performance next year due to the upcoming Protodanksharding upgrade.
• The JPM report says the potential impact of Bitcoin halving on its price is already factored into current valuations.
• JPMorgan analysts are stating that the approval of spot Bitcoin ETFs may not lead to a significant influx of new capital.
JPMorgan’s crypto outlook for 2024 is marked by caution, particularly regarding Bitcoin ( BTC ). The financial institution perceives Bitcoin as being overbought, driven by what they consider “excessive optimism” surrounding the potential approval of a spot Bitcoin ETF .
Its new report suggests Ethereum ( ETH ), currently the world’s second-largest cryptocurrency, may surpass Bitcoin, the largest, in performance next year.
Protodanksharding To Drive Ethereum’s Growth
The report, authored by JPMorgan analysts including Nikolaos Panigirtzoglo, cites the anticipated Ethereum network upgrade, dubbed “ Protodanksharding ,” as a key factor in this potential shift. This upgrade, expected in the first half of 2024, aims to significantly enhance the efficiency of the Ethereum network.
According to the JPMorgan report, Protodanksharding is the primary catalyst for this expected outperformance . Analysts believe that this upgrade will be a significant step in improving the activity on the Ethereum network, thereby boosting its performance relative to Bitcoin.
Read More: https://www.ccn.com/news/jpmorgan-ethereum-outperform-bitcoin/
KEY TAKEAWAYS
• Ethereum could do surpass Bitcoin in performance next year due to the upcoming Protodanksharding upgrade.
• The JPM report says the potential impact of Bitcoin halving on its price is already factored into current valuations.
• JPMorgan analysts are stating that the approval of spot Bitcoin ETFs may not lead to a significant influx of new capital.
JPMorgan’s crypto outlook for 2024 is marked by caution, particularly regarding Bitcoin ( BTC ). The financial institution perceives Bitcoin as being overbought, driven by what they consider “excessive optimism” surrounding the potential approval of a spot Bitcoin ETF .
Its new report suggests Ethereum ( ETH ), currently the world’s second-largest cryptocurrency, may surpass Bitcoin, the largest, in performance next year.
Protodanksharding To Drive Ethereum’s Growth
The report, authored by JPMorgan analysts including Nikolaos Panigirtzoglo, cites the anticipated Ethereum network upgrade, dubbed “ Protodanksharding ,” as a key factor in this potential shift. This upgrade, expected in the first half of 2024, aims to significantly enhance the efficiency of the Ethereum network.
According to the JPMorgan report, Protodanksharding is the primary catalyst for this expected outperformance . Analysts believe that this upgrade will be a significant step in improving the activity on the Ethereum network, thereby boosting its performance relative to Bitcoin.
Read More: https://www.ccn.com/news/jpmorgan-ethereum-outperform-bitcoin/
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