Bitcoin's recent decline since the April 2024 halving has been compared to market patterns observed ahead of the 2016 bull run by veteran trader Peter Brandt. Following the 2016 halving, Bitcoin experienced a 27% drop before surging to a high of $20,000 in December 2017. Similarly, Bitcoin recently fell below $50,000, marking a 26% decline from its post-halving price of $64,962​ . Despite the drop, there are signs of recovery. Bitcoin prices have rebounded to around $56,000, and analysts like Benjamin Cowen have noted that the current pattern mirrors that of 2019 when markets experienced a substantial correction in the latter half of the year​. Tim Kravchunovsky suggests that crypto assets could recover more quickly than traditional stocks, similar to their swift recovery in 2020​ .These historical patterns and recent market behaviours indicate potential bullish outcomes, though some experts warn of broader market corrections ahead​.