The Potential Shiba Inu (SHIB) Price if Bitcoin Reaches $1 Million: ChatGPT Speculates
Artificial Intelligence has entered the scene with a bang, and thats particularly true for OpenAIs ChatGPT.
Although not accurate on multiple occasions, its always good fun to poke its AI-powered brains on different hypothetical scenarios. Thats what weve decided to do combining existing predictions and potential developments.
Can Bitcoin Reach $1 Million?
As CryptoPotato reported earlier, analysts from the well-known firm Bernstein Research gave multiple particularly bullish Bitcoin price predictions.
First, they positioned a forecast for BTC to reach $200,000 by the end of 2025. Its worth noting that they had improved this target, which previously was $150K.
Once the price hits this cycle high in 2025, Bernstein believes that it is likely to tap a whopping $1 million by 2023, noting:
We believe bitcoin is in a new bull cycle. The halving presents a unique circumstance, where natural bitcoin sell-pressure from miners declines by half (or even more, as they inventory more in anticipation), while new catalysts for bitcoin demand arise, leading to exponential price moves.
And while BTC is nowhere near that price, the odds of it happening certainly raise an eyebrow,
But what would that mean for other cryptocurrencies and, more precisely, for SHIB? Well, heres what ChatGPT thinks.
ChatGPT Speculates on Potential Shiba Inu (SHIB) Price
The exact query that we tasked ChatGPT with was:
How high can SHIB price go if Bitcoin reaches $1 million?
To that, the chat-based language model gave a fairly elaborate answer, outlining that there are multiple factors to consider before arriving at a number.
These include:
- Market sentiment
- Market capitalization
- Adoption and use cases
- Supply and demand
- Overall altcoin market performance
ChatGPT also outlined a few scenarios based on the potential variables in the markets condition.
Provided market conditions are bullish, ChatGPT estimates that SHIBs price can reach $0.00051. This represents an increase of around 2736% compared to current prices.
In a more moderate scenario where SHIB doesnt grow in parallel but more conservatively, thus capturing a smaller market share due to competition or limited adoption, its price could reach $0.00017. This is still a notable 845% increase.
However, ChatGPT also considers a bearish scenario where:
Even if Bitcoin reaches $1 million, not all altcoins may benefit equally. If SHIB does not gain significant traction or if the altcoin market does not grow proportionately, the price impact could be limited.
In that case, a target price for SHIB would be $0.000085, which is an increase of around 372%.
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Text source: CryptoPotato
