Republican

Rally

United

Bitcoin

Bitcoin’s price is poised to benefit from the upcoming United States presidential election, regardless of the winner, according to CK Zheng, the investment chief at ZX Squared Capital.
Zheng explained that the impact of April’s Bitcoin halving event has historically resulted in strong fourth quarters. He noted that both US presidential candidates have not adequately addressed a significant issue that could favor Bitcoin.
“As both Republican and Democratic parties do not appropriately address the ever-increasing US debts and deficits during this election, this will be very bullish for Bitcoin especially post the US election,” Zheng stated.
Bitcoin (BTC) has historically thrived amid uncertainties related to previous US presidential elections, and Zheng believes this trend will continue.
Data from CoinGlass indicates that Bitcoin has often surged in the fourth quarter, rallying more than 50% six times since 2013. Years with Bitcoin halving events typically amplify these gains.
During the 2020 halving, for instance, Bitcoin skyrocketed by 168% in the fourth quarter, coinciding with the last US presidential election.
Zheng anticipates that Bitcoin will achieve a new all-time high in Q4 or shortly thereafter.
However, Samantha Yap, CEO and founder of the Web3 PR firm YAP, expressed a different perspective. She told Cointelegraph that Bitcoin rallies and their resulting price increases are often the “least interesting aspect.”
“What matters is the surge in retail interest across the crypto industry that follows. Media attention often follows retail attention, kicking off a whole media frenzy. The hope for the crypto and Web3 space during these moments is that there are more usable and accessible applications ready for newcomers to adopt,” Yap explained.
Zheng also mentioned that the Federal Reserve’s “aggressive” 50 basis point interest-rate cut could be “bullish” for Bitcoin and risk-on assets if the US economy manages to achieve a “soft landing.”
Central banks aim for soft landings by adjusting interest rates sufficiently to prevent overheating and high inflation, but not enough to trigger a downturn.
If the Federal Reserve succeeds, Zheng expects Bitcoin’s price to closely correlate with the NASDAQ.

Bitcoin to Experience Post-Election Rally Due to Mounting US Debt

Crypto Intelligence

Other articles published on Sep 30, 2024

California Governor Vetoes Controversial AI Safety Bill

Missed the Shiba Inu Boom? Experts Say This New Meme Token Could Deliver 50X Gains and Become the...

PepeCoin Price Prediction: PEPECOIN Tops Meme Coin Losers With 8% Plunge, But This New PEPE 2.0 G...

Binance Expands With New Listings: Details

Bitcoin’s Path to $586,500: Money Supply and Market Trends Fuel Optimism

Puffer Finance to Compensate Affected Users After EIGEN Airdrop Issue, Offers Bonus Rewards

Join our free newsletter for daily crypto updates!