Bitcoin's Price Expected To Benefit From US Presidential Election

According to Cointelegraph, Bitcoin’s price is anticipated to benefit from the upcoming United States presidential election, regardless of the outcome, as per CK Zheng, chief investment officer of ZX Squared Capital. Zheng highlighted that both Republican and Democratic parties have not adequately addressed the increasing US debts and deficits, which could be favorable for Bitcoin, especially after the election.

Historically, Bitcoin has seen significant gains in the fourth quarter, particularly during years with Bitcoin halving events. CoinGlass data indicates that Bitcoin has rallied more than 50% six times since 2013 in the fourth quarter. The last halving event in 2020 saw Bitcoin surge 168% in the fourth quarter, coinciding with the US presidential election that year. Zheng expects Bitcoin to reach a new all-time high in Q4 or shortly thereafter.