Bitwise Asset Management said that historically, BTC price performance has tended to be unsatisfactory in the month after the halving. In an article on April 16, Bitwise pointed out that the BTC price performance was mediocre in the month after the previous three halvings, but its price rose by at least three digits in the following year. Among them, BTC rose 9% in the month after the 2012 halving, but in the following year, it soared 8,839%.
A similar situation occurred during the 2016 halving: BTC fell 10% a month later and rose 285% in 2017 to a peak of $20,000; similarly, BTC rose 6% in the month after the 2020 halving, and then rose 548% in the following year.
Bitwise wrote: "The data is limited, but the picture (as shown) reveals an interesting pattern that market prices tend to underestimate the long-term impact of halvings." (Cointelegraph)