Analysis: The trend of Bitcoin after halving this year is similar to that of 2020, laying the foundation for potential growth

Rekt Capital compared the periods after Bitcoin's halvings in 2020 and 2024, finding a high degree of similarity between them. After both halving events, Bitcoin entered a re-accumulation phase lasting about 161 days. In 2020, as Bitcoin broke through its repeatedly tested resistance level, this period ended with a parabolic rebound. The support and resistance levels during these two periods showed continuous testing and retesting, laying the foundation for possible upward momentum.

Although historical patterns suggest significant changes may occur, differences in market conditions (such as trading volume) highlight that results may vary. A notable difference between these two periods is the trading volume (data used in charts comes from Bitstamp). In 2020, Bitstamp's bitcoin trading volume within 161 days after the halving event was 1.183 million; while in 2024 it was only at 313081. This discrepancy indicates changes in market participation which could potentially affect any breakthroughs' nature. Since this year's halving event took place all exchanges had a total transaction volume of around two and half million whereas within the first hundred sixty-one days post-halving back in twenty-twenty there were four million transactions made.(CryptoSlate)