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

Name	Symbol	Market	Market Cap ($)	Algorithm
Four	FOURRUSD	Crypto	1,089,509,400	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Four

FOURRUSD

Crypto

1,089,509,400

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000027	-1.09%	0.002451

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.000027

-1.09%

0.002451

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.002733	0.002428	0.002723	0.002478	0.00000000 - 0.015217

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.002733

0.002428

0.002723

0.002478

0.00000000 - 0.015217

Exchange	Last Trade	Size	Trade Price	Currency
Cryptocurrency	01:38:47	0.00000000	0.002803	USD

Exchange

Last Trade

Size

Trade Price

Currency

Cryptocurrency

01:38:47

0.00000000

0.002803

USD

Price x Volume	Volume	Base Symbol	Related Pairs
0.00000000	0.00000000	FOURR

Price x Volume

Volume

Base Symbol

Related Pairs

0.00000000

FOURR

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

04/06/2024 3:30pm

NEWSBTC

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. Related Reading: XRP Hasn’t Had A Bull Cycle Since 2017, Analyst Reveals What Will Happen When It Does 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. Palihapitiya noted that during the first three months after a Bitcoin halving event, investors are usually still reassessing the event and its impact on the crypto market. However, he revealed that from 6 to 18 months post-halving, Bitcoin witnessed an exponential price appreciation, pushing it to new all-time highs. “Bitcoin price has increased materially following each halving, with the bulk of the returns realized between 12 months and 18 months after the halving event,” Palihapitiya wrote. He disclosed that 18 months after Bitcoin’s first halving cycle, the cryptocurrency’s price increased by 45X. Following the second halving cycle, Bitcoin rose almost 28X, and after the third halving, it surged nearly 8X. Based on these halving patterns, Palihapitiya has projected Bitcoin’s future value to reach $500,000 by October 2025, expecting it to follow a similar trend as its previous halving cycles. BTC Could Replace Gold In his discussion, Palihapitiya disclosed that by analyzing the average patterns of Bitcoin’s previous halving cycles, the cryptocurrency could potentially surge to a peak of $1.4 million. He declared that Bitcoin could completely replace gold if it reaches such levels of appreciation, emphasizing its potential to become a digital currency with transactional utility for hard assets. Based on the averages of the second and third halving cycles, the billionaire investor projects Bitcoin’s price to rise to $99,643 six months after its halving event in April, reaching $238,623 in nine months, $362,997 in 12 months and nearly $500,000 in 18 months. Palihapitiya also disclosed several factors that could contribute to Bitcoin’s rise to $500,000. He stated that the increasing demand for Spot Bitcoin Exchange Traded Funds (ETFs) could have a significant impact on the value of Bitcoin in 2024. Related Reading: Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin This prediction may hold weight considering Bitcoin saw a consistent price increase at the beginning of the year after the approval of Spot Bitcoin ETFs by the United States Securities and Exchange Commission (SEC). The cryptocurrency’s price exceeded $73,000 after the launch of Spot Bitcoin ETF, officially marking a new all-time high since 2021. Featured image created with Dall.E, chart from Tradingview.com

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FOURRUSD Four