Rising voices began to be heard again in Bitcoin, which has been in the consolidation phase since March.
While top analysts say that many data give bullish signals for BTC, famous billionaire Chamath Palihapitiya predicted that Bitcoin will reach $ 500,000 by the end of this year.
Basing this prediction on previous halving cycle data, the famous billionaire said that the halving will be an important catalyst for the BTC price in the next 18 months.
Palihapitiya, who made a prediction based on the increase rate of Bitcoin after previous halvings and used Bitcoin's performance after the third halving as a model, claims that Bitcoin will reach $ 497,977 by October 2025.
The famous billionaire said that if Bitcoin's average price performance is experienced again after the second and third halvings, the BTC price will rise up to $ 1.14 million.
Stating that this price increase will be followed by increasing BTC adoption outside the historical model, Palihapitiya said:
“If Bitcoin performs as in previous halving cycles, the price could rise to $500,000 by the end of this year and over $1 million next year.
This increase will follow the historical pattern and increased Bitcoin adoption. Similar to El Salvador, we are seeing an increasing number of countries adopting Bitcoin.
Countries will look at local currencies, then they will look at Bitcoin, and then they will say both of these things are needed.
“One you will use when you trade for random goods and services on a daily basis, and the second, which is Bitcoin, you will use when you need to purchase a permanent asset that must have a value.”
Bitcoin continues to trade at $68,880 at the time of writing.
*This is not investment advice.