Google Gemini, ChatGPT and Grok Predict Shiba Inu Price if Bitcoin Hits $500,000 as Predicted by Bloomberg
thecryptobasic.com 26 July 2024 10:30, UTC Prominent AI chatbots Google Gemini, OpenAI’s ChatGPT and Grok from X, give varying price predictions for Shiba Inu if Bitcoin hits $500,000 as predicted by Bloomberg.
The leading business and market platform made this Bitcoin price prediction in a report last December. The prediction came up shortly after BTC crossed $42,000 in December 2023 after a period of sustained bearishness. Notably, Bitcoin had suffered 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 the confidence, the report asserted that the upsurge last December marked the start of a super cycle that could take Bitcoin to $500,000.
Interestingly, such an increase would positively impact the broader market, with altcoins like Shiba Inu benefiting. This is due to the price correlation these altcoins have with Bitcoin. IntoTheBlock (ITB) confirms this close relationship. Data shows that SHIB has 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 has increased when Bitcoin rose and collapsed when BTC dropped. Consequently, a price rise to $500,000 for Bitcoin could potentially push SHIB to greater heights. We sought opinions from AI chatbots Google Gemini, ChatGPT and Grok on what Shiba Inu’s price could be.
For context, Bitcoin currently trades for $68,034, while Shiba Inu changes hands at $0.0000178. Google Gemini (previously Google Bard) stressed that a rise to $500,000 from Bitcoin’s current position would necessitate a 7.35x increase. Adding a proportionate 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 record a proportionate increase due to their price correlation. ChatGPT sets SHIB’s potential price at $0.000135, also a new all-time high.
Meanwhile, Grok from Elon Musk’s X platform shares a view that slightly diverges from the rest. Grok assessed that Shiba Inu could rise by a mere 500% if Bitcoin reaches $500,000. Applying this growth rate, Grok sees SHIB hitting a price range of $0.0000495 to $0.0000990.
These responses confirm that Shiba Inu would react favorably to a Bitcoin surge to $500,000. However, these conditions remain purely hypothetical and should not be taken as investment advice. There is no guarantee that Bitcoin can reach $500,000 and it remains uncertain how SHIB would react if that happened.
