Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here’s Why

Bitcoin Gets Massive $500,000 Price Tag From Billionaire, Here’s Why

Venture capitalist and billionaire investor, Chamath Palihapitiya has predicted that Bitcoin could witness an unprecedented price increase to $500,000. This ambitious forecast hinges on the potential for a bull run following Bitcoin’s fourth halving cycle, which occurred on April 20 2024.

Bitcoin To Surge To $500,000

Palihapitiya has entered a notable discussion regarding the impact of historical halving cycles on Bitcoin’s value. The billionaire investor shared a price analysis illustrating Bitcoin’s performance and trend patterns following each halving event.

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According to Palihapitiya, historically, Bitcoin has reached new all-time highs after each halving cycle. He highlighted a correlation between Bitcoin’s halving events from 2012 to 2024, detailing the cryptocurrency’s price actions one month, three months, six months, nine months, 12 months and 18 months post-halving.  

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