2023-12-16 17:35:22
In their latest analysis, the financial analysts of the largest bank in the United States, JPMorgan, predict that Ethereum will surpass the world’s best-known cryptocurrency, Bitcoin, in the next year.
Experts have explained that Proto-Danksharding, the update coming to Ethereum in 2024, will significantly affect the performance of the digital asset. According to them, the event will have such an impact on Ethereum that it will surpass all cryptocurrencies, including Bitcoin, next year. A team led by Nikolas Panigirtzoglou, the company’s director of global market strategy he concludedthat Ethereum will rise once more and “reclaims its market share within the crypto ecosystem”.
The update in question, Proto-Danksharding, focuses on reducing the cost of Layer 2 solutions and making Ethereum more accessible to a wider audience.
“The main catalyst is EIP-4844, also known as Proto-Danksharding, which is expected to take place in the first half of 2024. In our opinion, this update will be a major step in improving Ethereum network activity, thus helping Ethereum to outperform.” – can be read in the article.
In contrast, JPMorgan explains that events that seem favorable for Bitcoin’s performance next year, such as the halving and the supposed approval of a spot ETF in the United States, are already being factored into BTC’s price.
And the head of JPMorgan is not at all enamored with Ethereum, Bitcoin, or cryptocurrencies in general. Jamie Domin recently stated that the only real uses for digital assets are criminals, drug dealers, money laundering, tax evasion. He also added that if he might, he would ban them.
The company’s analysis contradicts the views of other financial services firms, which are more optimistic regarding Bitcoin’s performance next year. For example, Bitwise predicts that BTC will rise to a new all-time high of $80,000, while Vaneck also claims that it will hit a new, unnamed record price.
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