Nope, Shakespere isn't in old english, or even middle english, it's just in plain old modern english with a few archaic words.
Old English is closer to German than it is to Modern English, Beowulf, Ceademon's Hymn, Beade, shit like that. Middle English is somewhere in between, most famous would be Chaucer.
EDIT: or maybe Beade's in latin, can't quite remember. Ah well.
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