Each time Bitcoin halving has occurred, the value of Bitcoin has skyrocketed. It makes sense because decreasing the supply of the cryptocurrency leads to increased demand and hence higher value. However, the price continues to fluctuate. Albeit the price does not fall below the value of Bitcoin before the halving took place.
The effort that is going into mining Bitcoin doubles as well, making it more valuable. Similarly, crypto halving makes cryptocurrencies stable and sustainable, making them even more attractive to investors.