Bitcoin's Winning Streak at Risk, Ethereum Predicted to Outperform in 2024

As Bitcoin's price cools, experts predict a strong 2024, bolstered by potential U.S. spot bitcoin ETF approval. Meanwhile, Ethereum is expected to outshine Bitcoin due to an upcoming scalability upgrade.

Bitcoin's price is currently cooling at $41,800, down 4% this week, and is on track to snap the first eight-week streak of gains since 2017.
Experts predict a strong 2024 for Bitcoin with multiple investment narratives supporting rising prices, including the U.S. spot bitcoin ETF approval and halving narratives.
BlackRock has adjusted its landmark bitcoin spot ETF application to allow Wall Street giants such as JPMorgan and Goldman Sachs access, signaling a potential game-changer for the crypto market.
JP Morgan analysts predict that Ethereum will outperform Bitcoin in 2024 due to an upgrade that will make the Ethereum blockchain more scalable.
The upcoming Bitcoin halving, which will cut the mining reward in half, is already priced in and will not give Bitcoin the boost some expect, according to JP Morgan.