According to Cointelegraph, CK Zheng, investment director of ZX Squared Capital, said that Bitcoin prices will benefit no matter who wins the upcoming US presidential election.

Zheng noted that Bitcoin’s halving events historically have typically led to a strong fourth quarter, and the bipartisan failure to address the growing U.S. debt and deficit is particularly bullish for Bitcoin.

Zheng expects Bitcoin to hit a new all-time high in the fourth quarter or later. Zheng also mentioned that if the Federal Reserve successfully achieves a “soft landing,” its aggressive 50 basis point rate cut could also be positive for Bitcoin and risky assets.

Samantha Yap, CEO of Web3 PR company YAP, believes that rising Bitcoin prices often trigger retail interest and media attention, driving the development of the entire crypto industry.

Currently, Bitcoin is trading at $64,400, down 2% in the past 24 hours. CoinGlass data shows that Bitcoin has risen by more than 50% in the fourth quarter six times since 2013. The 2020 halving event caused Bitcoin to rise by 168% in the fourth quarter.