JP Morgan: Bitcoin Upside Limited in 2024; Ethereum May Outperform on Upgrades
• JP Morgan analysts believe Bitcoin's next halving event is already priced in, limiting upside in 2024 • They see Ethereum outperforming Bitcoin next year due to upgrades like Protodanksharding • The bank is skeptical that a Bitcoin spot ETF approval will bring significant new capital • JP Morgan warned that exiting Grayscale Bitcoin Trust funds could pressure Bitcoin price • The bank also cautioned it's too early to get excited about a DeFi and NFT revival