JP Morgan Crypto Update: Ether could overtake Bitcoin in terms of profitability.
Ether, the second cryptocurrency by market capitalization, could overtake bitcoin in growth in 2024 and increase its market share. JP Morgan analysts are predicting an upcoming ethereum network upgrade called protodanksharding or EIP-4844. This improvement is expected to lower costs and increase the speed of transactions.
"While we are bullish on the overall cryptocurrency market in 2024, we predict Ether will overtake Bitcoin and other cryptocurrencies with the support of network upgrades," JP Morgan analysts said.
At the end of the week, Ether was worth around 2,250 US dollars, and since the beginning of the year it has gained a good 87%.
The price of Bitcoin, however, has risen by more than 150% this year, to $42,500. According to JP Morgan analysts, after the halving of Bitcoin in April next year, the value will most likely fall towards $35,000.
Wishing everybody a successful week!