~snipped~
Though the COVID pandemic actually affected Bitcoin in 2020, Keep in mind that the bulk of the last Bitcoin bull run took place after the 2020 presidential election it made its real move in the final quarter of 2020. It shattered its all-time high by breaching $15,000 in November 2020, moving above $20,000 in December 2020, and ending the year at around $29,000, so with all this statistic BTC is up for a bull run after the halving and the presidential elections.
The last Bitcoin ATH in the last circle stood above $68k and that happened in 2021. I don't believe the USA election had any hand in that. Like I stated earlier, it's pure coincidence that both events – Halving and the US election – come up the same year every four years. Also, we know that in the past (maybe it will be different this year) new ATHs had always happened a year after halving. If we follow that logic and historical data it means that Bitcoin hasn't seen its new ATH in this circle yet. That a new ATH will come in 2025. It's the expectation. Whether the US election holds or not, it won't prevent Bitcoin attaining it's ATH. Who knows, we may have it also pushed into 2026 as the emergence of institutional presence is changing the dynamics and narratives now.