CandleFocus Bitcoin poised for Q4 gains amid US election uncertainty and halving impact
2024-09-30
Author: Content Editor
Bitcoin's price is predicted to benefit from the upcoming US presidential election regardless of the winner, according to CK Zheng, chief investment officer of ZX Squared Capital. This is based on the historical impact of Bitcoin halving events leading to strong fourth quarters, as well as the candidates' failure to address key economic issues that could favor Bitcoin. In previous elections, Bitcoin has experienced significant growth before the winning party was declared. Zheng expects Bitcoin to reach a new all-time high in the fourth quarter or shortly after, and also notes that a potential interest rate cut by the Federal Reserve could be bullish for the cryptocurrency. Despite trading at $64,400 currently, down 2% in the last 24 hours, speculation about Bitcoin's future performance continues due to the election and halving event.
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