Important Shiba Inu (SHIB) Developments, Bitcoin (BTC) Conquers New Peaks, and More: Bits Recap March 14
TL;DR
- Bitcoin’s price hit over $73,500, with predictions of reaching $100K and even higher.
- SHIB experienced a 250% price increase in 30 days, surpassing DOGE in daily volume and making Forbes’ watch list for March.
- XRP’s price is catching up, with forecasts of a new all-time high influenced by the upcoming Ripple v. US SEC lawsuit decision.
BTC Keeps Marching Forward
Bitcoin’s bull run seems nowhere near its end, with its price hitting another all-time high of over $73,500 yesterday (March 14). The asset’s value has soared by almost 50% on a monthly scale, and the surge has benefited investors. IntoTheBlock data shows that 100% of BTC holders are currently sitting on paper profits.
Numerous experts believe the positive performance will continue in the following months, setting the $100K milestone (and even higher marks) as a target.
Important upcoming factors, such as the halving, might also contribute to an additional price ascent. The event, scheduled for April this year, slashes in half the rewards distributed to miners for validating new blocks on the Bitcoin blockchain, thus reducing the rate at which new coins are produced.
It is an essential part of BTC’s anti-inflationary feature and will make the asset scarcer. Historically, the halving has been a precursor of a bull cycle affecting the entire cryptocurrency market. Those willing to dive deeper and learn more about the event, feel free to check our dedicated video below:
SHIB Advancements
The second-largest meme coin remains among the top-trending cryptocurrencies, with its price skyrocketing by 250% in the past 30 days. Some savvy traders have taken advantage of the massive revival, sitting on multi-million profits (at least on paper) from investing in SHIB in its early days and holding their stash throughout the previous crypto winter.
Its impressive rally has also caught the eye of some well-known entities. Earlier this month, the global media company Forbes outlined the ten cryptocurrencies people should put on their watch list for March. Interestingly, SHIB was placed 10th on the ranking, while the biggest meme coin by market capitalization—Dogecoin (DOGE)—claimed the 9th position.
Despite still trailing behind its rival, SHIB surpassed it on multiple fronts in the past several days. As CryptoPotato reported, Shiba Inu aggregated daily volume surged by 200% at one point this week, while DOGE’s figure witnessed a more modest increase of around 92%.
What About XRP?
Ripple’s XRP was not among the market’s best performers when the bull run started last month. However, it appears to have caught up with the pace lately, with its price briefly exceeding the $0.70 mark. Currently, it trades at approximately $0.68 (per CoinGecko’s data), but numerous analysts think a fresh all-time high might be just around the corner.
LEB CRYPTO recently predicted that the token’s new peak might occur before or right after the Bitcoin halving. The pro-Ripple attorney Bill Morgan also envisioned a significant price increase for XRP. However, he claimed that an ATH may not come as fast.
A vital element that could trigger an XRP bull run (or hamper its progress) seems to be the outcome of the lawsuit between Ripple and the US SEC. The trial is scheduled for April 23.
The post Important Shiba Inu (SHIB) Developments, Bitcoin (BTC) Conquers New Peaks, and More: Bits Recap March 14 appeared first on CryptoPotato.
