I have an areca palm and one of them just drop dead one day suddenly. I never saw the fronds turning yellow or brown, never any sign and one day I looked up and it looks like this.

One of my neighbors said the reason is this mushroom that's growing out of it's base.

He said when these mushrooms show up then the entire palm will die quickly.

Is this true? What is the condition and is there a way to prevent further damages?