JP Morgan Forecasts Ether to Outperform Bitcoin in 2024: Protodanksharding boost for ETH

JP Morgan are forecasting Ether to outperform Bitcoin in 2024.

Suggesting this will be due to underperformance by BTC:

  • the bitcoin halving event in 2024 is likely already factored into the current market price (I posted on this here)
  • the impact of the halving on Bitcoin supply is predictable and priceable
  • the production cost for Bitcoin mining could rise from about $22,000 to around $44,000 post-halving
  • a potential 20% drop in the hash rate and the market exit of miners with higher overheads

While for Ethereum:

  • anticipated EIP-4844 upgrade, known as “Protodanksharding” which is expected to enhance Ethereum’s throughput and fees significantly
  • Protodanksharding is expected to take place during the first half of 2024


Interestingly JPM is wary of the impact of the potential approval of a spot Bitcoin ETF

  • might not attract fresh capital into the crypto market
  • could shift capital from existing Bitcoin products, like the Grayscale Bitcoin Trust and Bitcoin futures ETFs, into the spot products
  • could exert downward pressure on bitcoin’s price if funds exit the market instead of moving into other bitcoin instruments


Anyway, well done to the JPM analysts for even surviving within the bank. The big boss is not a fan of crypto:

This article was written by Eamonn Sheridan at Source