Shiba InuIf Bitcoin repeats its past rise, it could have an ambitious price increase of up to 30,385% after the halving, for example up to $0.006539.
With just three days until Bitcoin’s halving, discussions surrounding its possible effects on Bitcoin’s price have gained momentum. This event occurs every four years and supports price movement by reducing the daily inflation rate of new BTC tokens.
The market is in line with the three previous data in November 2012, July 2016 and May 2020. Bitcoin took into account this pattern observed after the halving event. In particular, the Bitcoin price rose rapidly after each of these events. Therefore, industry commentators expect this trend to repeat this cycle.
Bitcoin Halving and Its Effect on Prices
Another interesting pattern is the effects of Bitcoin price increases on the broader crypto market. The Shiba Inu has been one of the biggest beneficiaries of this trend. It eventually experienced huge price increases, turning a $1 investment into $453 million in 12 days.
This impressive return potential has attracted many investors to the Shiba Inu market in the hope that SHIB will record a similar uptrend. Crypto As the market enters the bull run phase and Bitcoin’s halving approaches, investors are of the opinion that the price of SHIB will increase. However, there are still uncertainties about how much it will increase.
Amid uncertainties regarding the potential upside rate, an assessment based on Shiba Inu’s uptrend from 2020 to 2021 was made shortly after Bitcoin’s most recent halving. This assessment provides limited but valuable insight into what to expect from SHIB this cycle.
Bitcoin Could Reach $513K and Shiba Inu Could Reach $0.0065
Notably, Bitcoin traded at around $8,500 on average during the previous bull run in May 2020. The leading cryptocurrency rose as high as $69,000 in November 2021 following the halving. This marked an impressive increase of 711% recorded 20 months after the halving event.
However, the Shiba Inu, which was released three months after the 2020 Bitcoin halving, experienced a more significant price increase after the event. In this evaluation, the earliest trading price of the Shiba Inu at that time will not be taken into account due to low volumes, which often reach $300.
SHIB started actual trading operations on February 1, 2021. Additionally, its price that day was $0.00000002910. Remarkably, this price skyrocketed to a historical high of $0.00008845 in October 2021. It marked an increase of 303,851% in just eight months.
If Bitcoin repeats a 711% post-halving rally during this market cycle, it is possible for the price to rise to approximately $513,000. SkyBridge Capital founder Anthony Scaramucci thinks this $500,000 price is possible. If such a price increase occurs in a similar time frame, BTC could hit $513,000 by late 2025.
Similarly, it is possible for the Shiba Inu to repeat its 303,851% increase. If this happens, its price will reach unprecedented values. Due to this massive increase rate, this assessment only captures 30.385% of the increase. It is possible for SHIB to rise by 30.385% after the Bitcoin halving. If this happens, its price will rise from the current level of $0.00002145 to $0.006539.
Notably, history doesn’t necessarily repeat itself, but it often rhymes. However, while this assessment only takes into account 10% of SHIB’s previous uptrend, there is no guarantee that the Shiba Inu will see such a price rally. In addition, Bitcoin’s projected rise also remains speculative.
Source : The Crypto Basic