The Bitcoin halving coming in April 2024 is expected to impact the crypto industry significantly. The halving event has always been significant for the crypto market, bringing massive surges for Bitcoin and taking the market to new heights.
Anticipation of this event has already started fueling bull runs around the market, and these could kick into high gear next year as we approach the most anticipated event.
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Shiba Inu (SHIB) has enjoyed the surge brought by this excitement. The dog-themed token is currently trading at $0.000009767, down relatively 4% in 24 hours, and up 18% in the past week, according to CoinMarketCap. In light of this, we’ve asked Google Bard, Google’s AI Chatbot, how SHIB will react to the Bitcoin halving event.
Bard began by discussing the Bitcoin halving. Bard wrote, “Historically, Bitcoin halvings have triggered bullish trends in the broader crypto market, including meme coins like SHIB.”
According to Bard, these surges come because of increased demand for Bitcoin leading to a spillover effect on other cryptocurrencies. Bard also highlights scarcity-driven price appreciation due to reduced supply.
The AI chatbot also points out that the magnitude of the impact on SHIB depends on multiple factors, including overall market sentiment, investor confidence, the performance of other major cryptocurrencies, and the success of SHIB’s projects and developments.
With a recent prediction of a 380% surge for SHIB, Bard shares this belief that Shiba Inu (SHIB) is on its way up. Bard provides three predictions for SHIB.
Pessimistic Scenario: According to Bard, in the worst-case scenario, if the market crashes or SHIB encounters challenges, its price could remain below $0.00004.
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Moderate Scenario: Considering potential uncertainties, Bard places SHIB’s average expected price between $0.00008 and $0.00012.
Optimistic Scenario: If the Bitcoin halving fuels a strong market bull run and SHIB experiences positive developments, its price could reach $0.00015 or even $0.0002.
However, Bard mentions that investors should conduct due diligence and consider various factors before making financial decisions. Whatever the scenario, SHIB seems to be currently bullish.
It’s worth noting that Shiba Inu (SHIB) has already surpassed Changelly’s prediction for December 30. If the digital token can sustain this momentum, it could soon become one of the best-performing tokens in the market.
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