Bitcoin Receives a Massive Price Tag of $500,000 from a Billionaire, with an Explanation of Why
Chamath Palihapitiya, a venture entrepreneur and billionaire investor, anticipates $500,000. Bitcoin’s price skyrocketed. Bitcoin’s fourth halving cycle on April 20, 2024, could launch a bull run, allowing for this ambitious estimate.
Bitcoin Expected to Reach $500,000 Palihapitiya analysed Bitcoin’s worth and previous halving cycles. This affluent investor published a pricing analysis of Bitcoin’s performance and trend patterns following each halving.
Palihapitiya stated that Bitcoin has reached new highs with each halving cycle. He compared Bitcoin’s price changes over one, three, six, and nine months.
months, 12 months, and 18 months after the halving of occurrences from 2012 to 2024.
According to Palihapitiya, investors analyse Bitcoin halving events and their impact on the cryptocurrency market every three months. He claimed Bitcoin increased 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 realised between 12 months and 18 months,” stated Palihapitiya.
He stated that Bitcoin’s price increased 45X 18 months after its initial halving cycle. Bitcoin increased around 28X after the second halving and 8X after the third.
Palihapitiya predicts that Bitcoin’s value will reach $500,000 by October 2025, based on these halving tendencies.
Bitcoin Could Replace Gold.
Palihapitiya believes that by examining Bitcoin’s usual halving cycles, the cryptocurrency might reach $1.4 million. If Bitcoin rises to such heights, it may replace gold as a digital currency for physical assets, he claims.
The affluent investor anticipates Bitcoin’s price to climb to $99,643 six months after its April halving, $238,623 in nine months, $362,997 in 12 months, and about $500,000 in 18 months, based on the averages of the second and third halving cycles.