ZX Squared Capital: "US Presidential Election Results Will Not Hinder Bitcoin's Rally"

The representative of the ZX Squared Capital fund believes that the price of Bitcoin will benefit from the 2024 US Presidential election, regardless of who wins, as the economic and political factors surrounding this event will create a positive signal for the price of Bitcoin. On September 28, CK Zheng, the investment director of the ZX Squared Capital fund, stated that the price of Bitcoin will benefit from the upcoming 2024 US Presidential election, regardless of who the winner is. Zheng pointed out that both the Republican and Democratic parties lack a clear plan to address the growing public debt in the US, creating an opportunity for the king coin to rise in price. He commented: "While both parties do not provide an effective solution to the growing debt and budget deficit, this will be a positive signal for Bitcoin, especially in the post-election period." This assessment is completely opposite to Bernstein, as analysts at this research firm predicted that the price of Bitcoin will either drop to $30,000 or rise to $90,000 depending on the winner of the US Presidential election in November. However, history seems to be leaning towards CK Zheng. Based on data from CoinGlass, Bitcoin has recorded impressive growth in previous Q4s, with the BTC price increasing by more than 50% in six times since 2013. Furthermore, the years when the Bitcoin Halving event occurs usually witness impressive growth spurts. For example, in 2020, the king coin exploded with a 168% increase in Q4 2020 after the third Halving. By April 2024, Bitcoin will have completed its fourth Halving, leading many investors to expect a new price cycle for the world's largest cryptocurrency in the future. The coincidence that the US Presidential election years also coincide with the Bitcoin Halving event has led Zheng to expect that the price of Bitcoin will surpass the ATH reached in March 2024 in the final months of Q4 2024 or shortly after. However, a report by the Outlier Ventures fund on September 3 warned that investors should not rely too heavily on the 4-year volatility cycle of Bitcoin's price, as the cryptocurrency is experiencing its weakest post-Halving growth in history. In addition, Zheng also believes that the Federal Reserve's (FED) decision to cut interest rates for the first time in 4 years could bring positive signals for Bitcoin and other risky assets. This action not only reflects the central bank's efforts to curb the overheating of the economy and inflation, but also opens the door for new money to flow into the asset market, including Bitcoin. Zheng's assessment is also reinforced by Bitcoin ETF funds, which have recorded inflows over the past 7 days. As of September 27, the inflow into Bitcoin spot ETF funds reached $494.4 million, the highest level since the $886 million recorded in early June. This creates an optimistic sentiment not only in the stock market, but also in the cryptocurrency market, driving confidence in the recovery and growth of Bitcoin in the coming period. At the time of writing, the price of Bitcoin is fluctuating around $64,300, down 1.73% in the last 24 hours. Regarding the 2024 US Presidential election, the support rate for both candidates is almost equal on the Polymarket prediction market, with Kamala Harris currently slightly ahead at 50% compared to 49% for Donald Trump. Harris has taken the lead thanks to her statements committing to support the crypto industry if elected, taking advantage of the advantage after Trump's defeat in the 1:1 debate between the two candidates.