The excitement in the crypto world is palpable as the anticipation surrounding the potential approval of a spot Bitcoin Exchange-Traded Fund (ETF) rises. While the approval from the U.S. Securities and Exchange Commission remains pending, Google Bard, a powerful AI developed by Google, is making interesting predictions.
Shiba Inu (SHIB), the second largest meme coin in the crypto market, has a community of loyal followers eager to know how their beloved meme coin will perform if spot Bitcoin ETFs get approved. Bard has offered insights into how this landmark event could impact SHIB’s price, providing multiple scenarios.
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Google Bard’s Expectations for SHIB
Bard outlined three potential scenarios, each dependent on the magnitude of Bitcoin’s rally after the SEC gives the green light. In a conservative outlook, a modest 5-10% Bitcoin surge could translate to a 5-10% bump for SHIB, propelling its price to approximately $0.00001071-$0.00001105. This surge will once again push Shiba Inu (SHIB) well above the $0.00001 resistance.
Bard also presented a more optimistic outlook with a moderate scenario. Should Bitcoin experience a 20-30% price jump, SHIB could potentially follow suit, soaring to prices between $0.00001171 and $0.00001265.
This scenario rests on the assumption that increased mainstream adoption of Bitcoin through the ETF would increase confidence in and demand for other cryptocurrencies, including Shiba Inu (SHIB).
Bard did not stop there. The chatbot also predicted a potentially mouth-watering bullish scenario. With widespread positive market sentiment and a Bitcoin price surge exceeding 50%, Bard says SHIB could witness a jaw-dropping 50-100% or even higher increase, potentially reaching prices between $0.00001464 and $0.00001952 or beyond.
While this may seem like a fantasy, it highlights the immense potential for price swings in the unpredictable crypto market.
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Can Shiba Inu (SHIB) Reach these Heights?
However, it’s crucial to remember that Bard’s predictions are not set in stone. Its strategies have limitations and the crypto market’s unpredictability could impact them. Unforeseen events and regulatory changes can throw a wrench into even the most carefully crafted forecasts.
Furthermore, the actual timeline for ETF approval and its specific implementation details remain uncertain. The crypto market is closer to the spot Bitcoin ETF approval than ever, but there is nothing concrete to hold on to yet.
This means that any price estimates are subject to change based on evolving market conditions. However, Bard is confident that an ETF approval will send Shiba Inu (SHIB) to new heights.
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