Bitcoin (BTC), the original cryptocurrency, will undergo its next halving cycle in April of this year. Many consider halving cycles bullish as they reduce the number of coins created, reducing supply and increasing demand. Many analysts anticipate a bullish ripple effect on the crypto market after BTC’s upcoming halving event. Other cryptocurrencies, such as Shiba Inu (SHIB), may also witness a rally as a consequence of the halving event.
Also Read: Shiba Inu: ChatGPT Predicts 76% Rally for SHIB in February 2024
Many analysts anticipate BTC to reach a new all-time high of $500,000, fuelled by the approval of 11 spot BTC ETFs (Exchange Traded Funds) by the SEC (Securities and Exchange Commission) in January and BTC’s halving in April.
Shiba Inu’s (SHIB) price if BTC hits $500,000
According to the popular AI (Artificial Intelligence) chatbot ChatGPT, if Bitcoin (BTC) hits $500,000, Shiba Inu’s price could reach $0.0002- $0.0005. Reaching $0.0005 from current levels would translate to a growth of over 5500%.
Also Read: How Much Shiba Inu Do You Need To Make $10 Million If It Hits $0.1?
Google’s Bard AI, on the other hand, paints a more bearish picture of the memecoin. According to Bard, if BTC hits $500,000, Shiba Inu’s (SHIB) price could surge to between $0.0000495 and $0.0000990. Reaching $0.0000990 from current levels would translate to growth of over 1000%. Although Bard’s prediction is more bearish, both outlooks could lead to significant gains.
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Changelly, on the other hand, anticipates Shiba Inu (SHIB) to reach a maximum price of $0.0000149985 in 2024, a rise of about 68% from current levels. Telegaon is more bullish on SHIB, predicting the asset to reach a maximum price of $0.0000571 in 2024, a rise of over 540% from current levels.