3 key signs that the BTC bull market is just beginning

TL; DR

Recently, the price of Bitcoin has seen a sharp increase, surpassing $62,000 and fueling speculations about the start of a major bull run. Some important factors suggest that a new all-time high may be just around the corner.

Halving BTC

Bitcoin prices have delighted cryptocurrency participants and alarmed naysayers over the past few weeks, showing an exponential rise. It currently trades above $62,000, on par with its February rally. Represented The longest monthly green candle in the asset's history.

Despite the dramatic climb, some important factors and approaching events suggest that this could be the start of a major bull run and further gains.

One important thing. Bitcoin halving, was planned to be held in April this year. New BTC will reduce the amount of mining, which can make them more valuable if the economic fundamentals of supply and demand (theoretically) are followed.

Historically, the phenomenon has generally been followed by index resurgence. Those interested in learning more about the upcoming development can watch the video below:

Abandoning exchanges

Another sign that suggests that the price of Bitcoin may rise further in the near future is from its investors. Shift From central platforms to self-sustaining methods. According to CryptoQuant, BTC exchange nets have been mainly negative over the past few weeks, with a large red candle on March 1st.

Accumulating holdings in private wallets reflects a growing sense of confidence among investors and their willingness to stay in the market for the long term. It also immediately reduces sales pressure.

This trend could fuel developments in services designed to ease self-management for many users, attracting new entrants and prompting existing investors to increase their exposure.

Demand is still increasing.

In the past, Bitcoin bull cycles have been associated with high demand for Google searches. Its popularity on the world's largest search engine certainly has. added In the past few months, however, it is still below the levels seen at the end of 2021 (when it reached an all-time high of nearly $70,000).

Leading altcoins such as Ethereum (ETH), Ripple (XRP), Cardano (ADA) and others should experience the record demand seen three years ago, which means they could be on the verge of another bull run. as well as.