Halving events have frequently been associated with increase in the price of bitcoin with significant upward momentum both before and after halving. Bitcoin halving often generates increased market attention and hype. Expectations of lower supply and likely price increases may fuel positive feelings amongst investors and traders.
Let me make a simple illustration for you may be it could help your understanding better.
What bitcoin halving does is to divide bitcoin block reward by half and starched the half away for the public ledger, so if that is done that means limited bitcoin in circulation and that means scarcity which will trigger an increase in value which is the price and that results into market demand that is called a bull run.
So if you ask me I will say yes Bitcoin halving cycle always give birth to price increase and other value interest for Bitcoin.
Given in an isolated supply and demand system, with an equal demand but halving supply, it is obvious that the price will increase since the price is inversely proportional to supply while it is directly proportional to demand.
The halving is also one of the major catalysts for a market bull run where the sentiment of the market is highly hyped and the demand for Bitcoin increases due to the influx of new funds from the coming new investors.
So in general the Bitcoin halving does not only reduce the upcoming supply of Bitcoin in the market, it also triggers a hype sentiment that strengthens the demand for Bitcoin resulting in more inflow of funds. This is the scenario why Bitcoin rallied after halving.