November 27, 2023

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JPMorgan Bullish on Ethereum in 2024

December 14, 2023

JPMorgan's Ethereum Optimism

JPMorgan predicts Ethereum to surpass Bitcoin in 2024, citing optimism around the Protodanksharding upgrade.

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Proto Danksharding Upgrade Benefits

The upgrade enhances Ethereum's network without the complexities of traditional sharding, benefiting Layer 2 networks.

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JPMorgan notes that bullish factors for Bitcoin in 2024 are already reflected in current market prices.

Bitcoin's Priced-In Factors

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Analysts suggest the 2024 Bitcoin halving is likely priced in, considering the current Bitcoin price-to-production cost ratio.

Assessment of Bitcoin's Halving

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DeFi's Shortcomings

JPMorgan highlights decentralized finance's failure to integrate into traditional finance as a major disappointment.

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Crypto Funding and Potential Turnaround

Improved fourth-quarter crypto venture funding is cautiously viewed by JPMorgan as a tentative sign of a potential end to the "crypto winter."

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Ethereum EIP-4844 Upgrade

The analysts expect Ethereum's EIP-4844 upgrade to boost its market share in the crypto ecosystem in 2024.

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