In theory, the effect of the halving on BTC price is evaluated positively. Many investors and miners closely follow Bitcoin halving dates and adjust their positions in this direction. Because the increase in BTC prices after halving is important in terms of preserving the profitability of mining. BTC rewards reduced by halving in case of the mining not maintaining profitability will not cover mining costs and will lead to the sale of mining devices.
When the past halving processes are examined, it is observed that BTC price increases after halving. As per the economic principle, the prices of precious metals such as gold tend to increase due to limited supply. Since BTC is also shown as the supply limit and gold of cryptocurrencies, after halving, an increase in price is expected. Although the price increase is likely, it is also unlikely to occur in the short term. Because BTC pricing is determined in the supply-demand market. At the market having the last word, prices sometimes take longer than expected to reach the expected level.