Bitcoin Price Predictions, XRP Targets, and Shiba Inu Issues: Bits Recap Oct 9

TL;DR

Bitcoin hovers around $26-$27K; experts and factors like the upcoming halving suggest potential growth, possibly reaching $100,000.
Ripple achieved another legal win against the US SEC and earned multiple accolades, including the UK’s PAY360 prize.
After a hack on SHIB’s Telegram promoting a false airdrop, the team swiftly heightened security measures.

What Does the Future Hold for Bitcoin?

The primary cryptocurrency has recently consolidated around the $26-$27K level, showing less volatility than usual and prompting some to speculate whether the price has a chance to soar in the future.

Many experts like Robert Kiyosaki, Adam Back, Anthony Scaramucci, and Tom Lee are among the individuals expecting BTC to eventually reach the $100,000 coveted mark. 

We also asked ChatGPT whether a bull market is in the cards for next year. The AI-powered language model estimated that such a scenario is plausible with the help of several vital factors, such as increased supply and demand, institutional interest, regulatory developments, media influence, technological advancements, and the upcoming halving.

The last element seems to be of utmost importance, considering its role in the past. The event, which occurs every four years and reduces the reward miners receive for adding new blocks on the blockchain, has historically caused price rallies. Recall that BTC tapped an all-time high (ATH) of almost $70,000 less than two years after the previous halving. 

ChatGPT also determined that those factors could not only push the leading digital asset up but also lead it to a new peak. 

Ripple in the Spotlight Again

The blockchain enterprise made the headlines once again last week when securing another landmark win against the US Securities and Exchange Commission (SEC). A US court rejected the agency’s wish to appeal the July decision, which determined that Ripple’s XRP sales from years ago did not constitute an offer of investment contracts.

Judge Torres scheduled a trial for April 23, 2024, as its resolution could finally put an end to the lengthy battle between these organizations.

Apart from its victory in the legal field, Ripple won the most prestigious payment prize in the United Kingdom (UK) – the PAY360 Awards. The firm topped the ranking for being the leader in digital currencies/assets in financial services.

The company was previously placed among “the best workplace in technology” for 2023 (according to Fortune Magazine) and “the 100 Companies Who Care For Employees And Society” (per People’s Magazine).

Shiba Inu Fixed its Issues

Last but not least, we will touch upon the popular memecoin Shiba Inu and the recent hacking attack which it endured. Wrongdoers compromised the official SHIB Telegram admin account on October 4 and used it to promote a fraudulent BONE airdrop.

The team reacted quickly and warned the community to refrain from clicking on any links related to such distribution. They also fixed the problem the following day by changing passwords and implementing a two-factor authentication (2FA) to prevent another possible jeopardy.