Bitcoin Receives a Huge Price Tag of $500,000 from a Billionaire, With an Explanation of Why

Venture entrepreneur and billionaire investor Chamath Palihapitiya predicts a $500,000. Bitcoin price explosion. Bitcoin's fourth halving cycle on April 20, 2024, might spark a bull run, enabling this audacious projection.

Bitcoin To Reach $500,000
Palihapitiya has discussed Bitcoin's value and prior halving cycles. This wealthy investor released a pricing study of Bitcoin's performance and trend patterns after each halving.

Palihapitiya said Bitcoin has achieved fresh highs following each halving cycle. He compared Bitcoin's price movements one month, three months, six months, nine months, 12 months, and 18 months after its 2012–2024 halving occurrences.

Investors regularly analyze a Bitcoin halving event and its influence on the crypto market for three months, according to Palihapitiya. He said Bitcoin rose exponentially from 6 to 18 months after halving, reaching new highs.

“Bitcoin price has increased materially following each halving, with the bulk of the returns realized between 12 months and 18 months,” Palihapitiya noted.

He said Bitcoin's price rose 45X 18 months after its initial halving cycle. Bitcoin soared approximately 28X after the second halving and 8X after the third.

Palihapitiya expects Bitcoin's value to reach $500,000 by October 2025 based on these halving trends.

BTC Could Replace Gold

Palihapitiya said that by evaluating Bitcoin's typical halving cycles, the cryptocurrency may reach $1.4 million. If Bitcoin appreciates to such heights, it might replace gold as a digital money for physical assets, he said.

The wealthy investor expects Bitcoin's price will grow to $99,643 six months after its April halving, $238,623 in nine months, $362,997 in 12 months, and approximately $500,000 in 18 months based on the averages of the second and third halving cycles

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