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

ChainCatcher news, according to CryptoSlate, Rekt Capital compared the periods after the Bitcoin halvings in 2020 and 2024 and found significant similarities between the two. After both halving events, Bitcoin entered a reaccumulation phase lasting approximately 161 days. In 2020, this period ended with a parabolic rebound as Bitcoin broke through its repeatedly tested resistance level.

The support and resistance levels during these two periods showed continuous testing and retesting, laying the groundwork for potential upward momentum. While historical patterns suggest the possibility of significant changes, differences in market conditions (such as trading volume) highlight that the outcomes may not be the same.

A notable difference between the two periods is the trading volume (data in the chart is sourced from Bitstamp). In 2020, the Bitcoin trading volume on Bitstamp during the 161 days following the halving event was 1.183 million, while in 2024, the volume was 313,081. This difference indicates a change in market participation, which could affect the nature of any potential breakout.

Since this year's halving, the total trading volume across all exchanges has been 2.5 million, compared to 4 million during the 161 days following the 2020 halving.