Bitcoin Bull Runs

The famous cryptocurrency is in the midst of a bull run that has started after the Bitcoin halving in May, and it is still going strong in 2021. This bull cycle attracted a lot more attention than the previous ones because it exceeded all expectations. As a matter of fact, the price has surpassed $50,000 in February. If you wonder what makes this bullish cycle so different from the others, keep reading.

Current Bull Run 

The main trigger for this bull run was the Bitcoin halving. This event takes place roughly every four years or after 210,000 blocks are mined. The importance of the event is huge because it is programmed to cut in half the inflation rate by halving the block reward the miners receive.

To understand how this affects the price of Bitcoin is very important to know that because Bitcoin is a decentralized digital cryptocurrency and isn't affected by any decisions of any central authority. So, there isn't a fiscal or monetary policy that can impact the supply and demand of Bitcoin.

Actually, the relationship between supply and demand is the main factor that affects the price. When the halving occurs, the supply is reduced even more, and it's getting more expensive for miners to mine, while the total supply of BTC is fixed to 21 million. So, generally, after a halving (based on the data we have so far), the price of Bitcoin rises.  After the Bitcoin halving in May, the price of Bitcoin rose to $9,999. In the next period, the price would continue to grow.

The first notable record happened in November when Bitcoin's price climbed over $18,000. In the next couple of months, the price was still on an upward trend, and it broke another record in December when it surpassed $20,000. This brings us to 2021, when Bitcoin price doubled and hit $40,000, while in February, it reached $52,635.

What Makes This Bull Run Different?

This bull cycle is different from the previous ones because today, it is very easy for retail investors and institutional investors to obtain Bitcoin as there are a huge number of online trading platforms. One excellent trading site is Bitcoin digital, and you can easily create a Bitcoin account and also see Bitcoin Digital.

The site is based on AI technology which means the robot is able to quickly adapt to changing data and provide constant steady performance. This also means you don't have special knowledge or skills to get into trading, as this is an automated trading platform. Plus, you can earn up to $800 on a daily basis here.

Another reason why this bull cycle is different is that institutional investors drive the demand for BTC, and they support Bitcoin. Today, an increasing number of businesses are aware of the advantages of blockchain technology and cryptocurrencies, and this also positively impacts the market demand.

Previous Bull Runs

When it comes to the past bull runs, you can notice that the price has risen and followed an upward trend after a Bitcoin halving. After the first halving, in 2012, the price insignificantly rose from $11 to $12. But, about a year later, the price increased to $1,075 in November. The subsequent halving in 2016 prompted one of the most notable bull runs in Bitcoin history as the price went from $576 to $650. Again, a year later, after a steady growth cycle, Bitcoin broke its first record and reached $17,000 in December.

The price decreased in 2018, but this is an important period of the cryptocurrency because it marks a time of low volatility and steady growth in 2019, when it reached $10,000 in June. So, the future predictions are extremely positive because the crypto market has matured, and more organizations are aware of the positive aspects of blockchain technology and cryptocurrencies.