Following Bitcoin's recent halving event, which took place on April 19-20, the cryptocurrency community is eager to assess its trajectory, especially considering the historical significance of such events.

Bitcoin halving, a technical mechanism that halves the reward for mining new Bitcoin approximately every four years, aims to maintain the cryptocurrency's scarcity and protect it from inflation. Despite this, Bitcoin's price has not experienced a significant surge in the month since the latest halving, hovering around $65,000.

This lack of immediate momentum post-halving contrasts with historical patterns. In previous instances, Bitcoin has typically seen notable price increases after halving events. For instance, after the first halving in November 2012, Bitcoin's price surged from $12 to $135 within 300 days. Similarly, following the second halving in July 2016, Bitcoin climbed from $658 to $1,551 within the same timeframe.

However, despite the absence of an immediate rally, industry experts remain optimistic about Bitcoin's future growth. Steven Lubka, managing director at Swan Bitcoin, notes that while Bitcoin has not witnessed a sharp rise immediately after halving in the past, it typically experiences gradual increases over time. Rennick Palley, founding partner at Stratos, expects Bitcoin to continue its upward trajectory over the next 12 months following the halving.

But why hasn't this year's halving followed the same pattern as its predecessors? One key factor is that Bitcoin had already reached its peak a month before the halving, making it challenging to sustain the same momentum. Additionally, the mainstream adoption of Bitcoin and the introduction of spot Bitcoin ETFs have altered the dynamics influencing the cryptocurrency's price movement.

Palley emphasizes that Bitcoin's price is now heavily influenced by global liquidity dynamics and adoption. As fiat currency continues to be printed and more people recognize Bitcoin's value as a store of wealth, its price in dollar terms is expected to rise.

Despite uncertainties surrounding Bitcoin's short-term dynamics, analysts remain confident in its long-term potential. Lubka predicts that Bitcoin may surpass the $100,000 mark this year, although pinpointing an exact timeframe remains challenging.

CoinGecko data reveals that Bitcoin's price has surged by an astounding 96,302% since 2013, underscoring its remarkable growth trajectory and potential for further appreciation.