Cointelegraph reports that Bitcoin’s price is expected to benefit from the upcoming U.S. presidential election, regardless of the outcome, according to CK Zheng, chief investment officer of ZX Squared Capital. Zheng noted that neither the Republican nor Democratic parties have effectively addressed rising U.S. debts and deficits, which could favor Bitcoin, especially after the election.

Historically, Bitcoin has performed well in the fourth quarter, particularly during halving years. Data from CoinGlass shows that Bitcoin has surged over 50% in the fourth quarter six times since 2013. Notably, after the last halving in 2020, Bitcoin skyrocketed 168% in Q4, coinciding with that year’s presidential election. Zheng anticipates that Bitcoin could hit a new all-time high in Q4 or shortly thereafter.

Samantha Yap, CEO of the Web3 PR firm YAP, emphasized that retail interest in crypto often spikes following Bitcoin rallies, frequently outpacing price increases. This surge typically attracts media attention, creating a buzz that could encourage more user-friendly applications for newcomers.

Zheng also pointed out that the Federal Reserve’s recent 50 basis point interest rate cut could positively impact Bitcoin and other risk assets if the U.S. economy experiences a soft landing. Central banks are striving to balance economic growth without triggering high inflation. If they succeed, Zheng predicts Bitcoin’s price will closely follow the NASDAQ.

Currently, Bitcoin is trading at $64,400, down 2% in the past 24 hours.