- 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’ failures to address US key economic problems. While traditional markets remain volatile, the crypto market could attract new investors who want to diversify their assets.
Community 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.’
Wrapping 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
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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source: https://techreport.com/crypto-news/will-bitcoin-hit-record-high-in-q4-amid-us-election-uncertainty/
