Bott Periodicity is a concept in algebraic topology that describes a periodic behavior in the stable homotopy groups of spheres. Specifically, it states that the homotopy groups of spheres repeat every eight dimensions. This means that the properties of these groups can be understood by examining only a finite number of cases. The theory was developed by mathematician Raoul Bott in the 1950s. Bott Periodicity has significant implications in various areas of mathematics, including K-theory and index theory, as it helps to simplify complex problems by revealing underlying patterns in the structure of topological spaces.