Altcoins
Google Gemini, ChatGPT, and Grok Predict Shiba Inu Price If Bitcoin Hits $500,000 as Expected by Bloomberg
Leading AI chatbots Google Gemini, OpenAI’s ChatGPT, and X’s Grok give varying price predictions for Shiba Inu if Bitcoin hits $500,000 as predicted by Bloomberg.
The leading trading and market platform has made this Bitcoin price prediction in a report last December. This prediction came shortly after BTC broke through $42,000 in December 2023 after a sustained period of decline. It is worth noting that Bitcoin has been under bearish pressure throughout 2022 and 2023.
Bloomberg Sees Bitcoin at $500,000
As the market turned bullish, Bloomberg’s report cited encouraging projections and remarks from industry leaders. Amid this confidence, the report claims that last December’s rally marked the beginning of a supercycle that could take bitcoin to $500,000.
Interestingly, such an increase would have a positive impact on the broader market, with altcoins like Shiba Inu This is due to the price correlation between these altcoins and Bitcoin. IntoTheBlock (ITB) confirms this close relationship. Data watch that SHIB had an 87% price correlation with Bitcoin over the past 60 days.
Google Gemini, ChatGPT and Grok predict Shiba Inu price
This shows that Shiba Inu rose when Bitcoin rose and crashed when BTC fell. Therefore, a rise in Bitcoin price to $500,000 could potentially push SHIB to greater heights. We asked AI chatbots Google Gemini, ChatGPT, and Grok for their opinions on what the Shiba Inu price could be.
For context, Bitcoin Bitcoin price is currently trading at $68,034, while Shiba Inu is trading at $0.0000178. Google Gemini (formerly Google Bard) has pointed out that a rise to $500,000 from Bitcoin’s current position would require a 7.35x increase. Adding a commensurate growth rate for SHIB would push the meme coin to a new all-time high of $0.000130.
ChatGPT’s response takes a similar approach. According to the OpenAI chatbot, if Bitcoin hits $500,000, Shiba Inu could also see a proportional increase due to their price correlation. ChatGPT pegs SHIB’s potential price at $0.000135, also a new all-time high.
Meanwhile, Grok of Elon MuskPlatform X’s takes a slightly different view than the others. Grok estimated that Shiba Inu could only grow by 500% if Bitcoin hits $500,000. Applying this growth rate, Grok sees SHIB reaching a price range of $0.0000495 to $0.0000990.
These responses confirm that Shiba Inu would react favorably to a Bitcoin rise to $500,000. However, these conditions remain purely hypothetical and should not be considered investment advice. There is no guarantee that Bitcoin can reach $500,000 and SHIB’s reaction if this were to happen remains uncertain.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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