LONDON (IT BOLTWISE) – The crypto market is currently showing its volatile side. While Shiba Inu is struggling with a dramatic drop in trading volume, XRP is experiencing a surge in user activity. At the same time, Tom Lee is causing a stir with his optimistic Bitcoin forecast, which estimates the value of the cryptocurrency at up to $3 million per BTC.
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The crypto market remains an arena of extreme volatility and unpredictable developments. Shiba Inu (SHIB), once a darling of the meme token community, is currently facing a dramatic decline in trading volume. Activity on major exchanges has all but evaporated, putting the token in a phase of stagnation. SHIB price is in a tight consolidation range around $0.0000102 without seeing any significant purchasing power or retail inflows.
In contrast, XRP, Ripple’s cryptocurrency, is experiencing a notable increase in user activity. The number of newly activated accounts doubled in just a few days, indicating renewed interest from users. On October 30, nearly 9,900 new accounts were registered, marking one of the largest increases in a month. This development could indicate an impending recovery in the XRP market as transaction activity and payment volumes on the platform have also increased.
Amid these developments, well-known crypto analyst Tom Lee has given an optimistic forecast for Bitcoin. Lee argues that the recent rise in gold prices represents a positive signal for the long-term value of Bitcoin. In an interview with Anthony Pompliano, Lee explained that Bitcoin could potentially reach a price of $1.6 million to $2 million per BTC if gold prices continue to rise. This assessment is based on the assumption that Bitcoin acts as digital gold and could benefit from the same market mechanisms.
Tom Lee’s prediction has caused a stir in the crypto community as it represents one of the highest estimates for Bitcoin’s future value. While some experts remain skeptical, others see Lee’s analysis as confirmation of the growing importance of cryptocurrencies as an asset class. The coming months could be crucial in determining whether these optimistic predictions come true and how the market develops overall.
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