Will Bitcoin Hit Record High in Q4 Amid US Election Uncertainty?

• ZX Squared Capital crypto hedge fund executive discussed the historical impact of Bitcoin ($BTC) halving events.
• The recent Federal Reserve's 50 basis point interest rate cut could be bullish for $BTC.
• CoinGlass data shows that $BTC has historically soared in Q4, especially in 2020, which happened to be the year of the US presidential election and halving event.

Hedge fund executives and prominent figures in the crypto industry predict $BTC to hit a record high amid current economic uncertainty.

Read on for the $BTC Q4 2024 price forecast.

$BTC's Post-Election Surge?

ZX Squared Capital CIO CK Zheng suggests the current US political and economic situation could be bullish for $BTC. $BTC rallied 168% in Q4 2020, which happened to be the year of halving and the previous US presidential election.

$BTC could benefit from both candidates' failuresto address US key economic problems. While traditional markets remain volatile, the crypto market could attract new investors who want to diversify their assets.

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.CK ZhengCommunity Remains Bullish

Zheng said the Federal Reserve's 50 basis point interest rate cut earlier this month could be bullish for risk-on assets like $BTC. CoinGlass data indicates that $BTC has historically soared in Q4, rallying more than 50% five times since 2015.

Prominent figures in the crypto industry have also shared their views on the future of $BTC. The founder of Gokhshtein Media, David Gokhshtein, thinks people are too focused on short-term technical indicators, whereas he's looking at the pulse of the community.'

By the end of quarter four (Q4), we will definitely hit $85,000.David GokhshteinWrapping Up

While the US debt crisis may lead to $BTC's post-election surge, its long-term performance remains speculative.

Crypto is the key topic of discussion during this year's election, so we can expect more clarity after November.

References

• Traders see Bitcoin hitting $85,000, but is the election really that key? (thestreet.com)
• Bitcoin Quarterly returns(%) (coinglass.com)

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