Fuel

Bitcoin

Gold

Narrative

Digital Gold

With Bitcoin currently <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">trading</a> at $64,400, down 2% in the last 24 hours, many experts remain optimistic about its future performance. Between political uncertainty, halving events, and increased liquidity, Bitcoin may be <a href="https://x.com/rovercrc/status/1840040517695910064" rel="noopener noreferrer nofollow">gearing</a> up for a major rally in the final quarter of 2024.
According to CK Zheng, chief investment officer of ZX Squared Capital, Bitcoin’s price is likely to benefit regardless of who wins the upcoming United States presidential election. Speaking in an <a href="https://cointelegraph.com/news/us-election-wont-hamstring-bitcoins-q4-rally-toward-new-high" rel="noopener noreferrer nofollow">interview</a>, Zheng pointed out that both Republican and Democratic parties have failed to address rising U.S. debts and deficits, a factor he believes will work in Bitcoin’s favor, especially after the election.
<h2 id="span-style-font-weight-400-bitcoin-poised-for-gains-post-election-span">Bitcoin Poised for Gains Post-Election</h2>
Bitcoin has historically seen gains during periods of political uncertainty, and the 2024 election may follow this pattern. CoinGlass data shows that Bitcoin has rallied by over 50% in six fourth quarters since 2013, with halving events boosting those gains even further.
Notably, in Q4 2020—<a href="https://thecoinrise.com/bitcoin-on-the-brink-of-breakout-analyst-points-to-historical-halving-patterns/" rel="noopener noreferrer nofollow">following the last halving—Bitcoin surged</a> by 168%. Zheng expects a similar pattern in Q4 2024, potentially pushing Bitcoin to new all-time highs.
<h2 id="span-style-font-weight-400-influence-of-other-factors-span">Influence of Other Factors</h2>
Zheng emphasized that <a href="https://thecoinrise.com/bitcoin-halving-2024-completed-miners-analyze-the-implications/" rel="noopener noreferrer nofollow">Bitcoin’s latest halving event in April</a>, along with rising liquidity, could further fuel price movements in the months ahead. He noted that the Federal Reserve’s potential 50 basis point interest rate cut could also positively impact Bitcoin, especially if the U.S. economy achieves a soft landing. In this scenario, Bitcoin’s price is likely to correlate closely with the NASDAQ, indicating broader market confidence in risk-on assets.
Samantha Yap, CEO of YAP, added that the surge in retail interest following Bitcoin rallies often triggers a wave of media attention. However, Yap argued that the real focus should be on the increasing adoption of Web3 applications, which could drive broader industry growth.
<h3 id="span-style-font-weight-400-a-growing-digital-gold-narrative-span">A Growing Digital Gold Narrative</h3>
As traditional markets remain volatile, <a href="https://thecoinrise.com/rich-dad-poor-dad-author-ends-the-bitcoin-vs-gold-debate/" rel="noopener noreferrer nofollow">Bitcoin’s narrative as “digital gold”</a> continues to gain momentum. Leo Fan, co-founder of Cysic, believes this narrative will attract more institutional investors, particularly those looking for a hedge against macroeconomic instability.
Fan noted that liquidity is gradually returning to the market, setting the stage for stronger Bitcoin price movements in the near future. 
The post <a href="https://thecoinrise.com/bitcoin-set-for-post-election-surge-as-us-debt-woes-fuel-bullish-outlook/" rel="noopener noreferrer nofollow">Bitcoin Set for Post-Election Surge as US Debt Woes Fuel Bullish Outlook</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Bitcoin Set for Post-Election Surge as US Debt Woes Fuel Bullish Outlook

Table of Contents

TheCoinrise Media

Other articles published on Sep 30, 2024

Vitalik Buterin Sold, Whales Bought! Whale with 100% Profitability Bought a Large Amount of Ether...

South Korea’s National Pension Service Clarifies Crypto-Related Stock Investments Linked to Index...

Ivory Coast’s Daba Finance wins $50k Ecobank Fintech Challenge 2024

Jameson Lopp: Most don’t realize how easy self-custody has become

Ripple Price Analysis: XRP Skyrockets 10% in 2 Days but is the Rally Over?

Analysts Reveal Bullish Cycle Top Price Targets for DOT, FET, and RENDER, Which Targets Will be H...

Join our free newsletter for daily crypto updates!