Particle.news
Download on the App Store
13 ARTICLES
·
last yr.

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.

Image
Image
Image
Image

Overview

  • 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.