Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Bitcoin (BTC) Price Volatility, Shiba Inu (SHIB) Advancements, Cardano (ADA) Predictions: Bits Recap March 7

Bitcoin (BTC) Price Volatility, Shiba Inu (SHIB) Advancements, Cardano (ADA) Predictions: Bits Recap March 7

CryptopotatoCryptopotato2024/03/07 07:39
By:Dimitar Dzhondzhorov

BTC had a highly-volatile trading week and a new ATH, important SHIB metrics headed north, while ADA was predicted to reach new ATH.

TL;DR

  • Bitcoin hit a new all-time high of over $69,000, then dropped nearly $10,000, but recovered to around $66,000. Optimism remains high due to the upcoming halving.
  • Shiba Inu surged 220% in two weeks, with significant increases in burn rate and trading volume. A teased SHIB-related product/service has sparked community speculation.
  • Cardano’s ADA rose to $0.72, with analysts predicting a potential spike to $10, mirroring past bullish trends.

 

Bitcoin’s Ups and Downs

The ongoing week has been quite eventful (so far) for the primary cryptocurrency,  witnessing a new all-time high price of over $69,000 on March 5. However, the peak was short-lived, and the asset nosedived by nearly ten grand hours later,  triggering  more than $1 billion in liquidations.

The correction did not last long, either, with BTC heading north once again. Yesterday (March 6), the price surpassed the $67K mark, while currently, it trades at around $66,000 (per CoinGecko’s data).

Bitcoin (BTC) Price Volatility, Shiba Inu (SHIB) Advancements, Cardano (ADA) Predictions: Bits Recap March 7 image 0

Despite the enhanced volatility and the brief plunge below $60,000, numerous industry participants suggest the rally could continue at an unprecedented pace in the following months. The upcoming Bitcoin halving , scheduled for April this year, supports that thesis.

The event takes place every (roughly) four years and reduces the rate at which new BTC are mined. Historically, it has been followed by an overall market boom. Those willing to observe additional factors hinting that the leading digital asset might be gearing up for an additional rally in the near future can read our article here .

What’s New Around SHIB?

The price of Shiba Inu has also taken center stage recently, skyrocketing by 220% in the past two weeks. Besides that, the popular meme coin experienced a resurgence of multiple indicators related to its ecosystem.

The burn rate exploded by 30,000% a few days ago, whereas aggregated trading volume (where each transaction exceeds $100,000) and daily active addresses have  soared , too.

Most recently, the lead developer of Shiba Inu, Shytoshi Kusama,  said  the team has been participating in meetings and “talking to the other side of the world” regarding the introduction of a SHIB-related product or service. Multiple X users highlighted the upcoming release, casting doubts on what could be on the horizon.

Is ADA Ready for a Considerable Spike?

Cardano’s ADA has soared by 50% on a monthly scale, currently trading at $0.72. Despite not performing as well as other altcoins and meme coins, some analysts remain optimistic that the asset is poised to hit an ATH in the following months.

The X user Ali claimed the token seems to mirror its previous bull cycle, envisioning a “parabolic” spike to as high as $10 (should the trend remain the same). 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

With Monad mainnet approaching, what airdrop and yield opportunities are available?

Enjoy both earnings and airdrops.

ForesightNews 速递2025/09/15 09:13
With Monad mainnet approaching, what airdrop and yield opportunities are available?

HTTP 402 and Micropayments: A Thirty-Year-Old Dormant Code Awakens in the AI Era

This article traces the origins of "HTTP 402 - Payment Required" in the HTTP protocol and its destined role in the digital age. The article argues that the advent of artificial intelligence (AI) is reviving the value of HTTP 402.

Chaincatcher2025/09/15 08:22
HTTP 402 and Micropayments: A Thirty-Year-Old Dormant Code Awakens in the AI Era

What will happen next week when the "US stocks that surged 32% in 5 months" meet the "Federal Reserve resuming interest rate cuts"?

Record-setting U.S. stocks are facing a turning point as the Federal Reserve is about to restart interest rate cuts, with the market weighing expectations of monetary easing against concerns over an economic slowdown.

ForesightNews2025/09/15 07:23
What will happen next week when the "US stocks that surged 32% in 5 months" meet the "Federal Reserve resuming interest rate cuts"?