According to CryptoPotato, Bitcoin's price recently surpassed $62,000, sparking speculation that a major bull run has begun.
Some important factors suggest that a new all-time high could be just around the corner. One of the important factors is the Bitcoin halving, which is scheduled to take place in April this year.
Halving reduces the rate at which new BTCs are mined, potentially making them more valuable if the economic fundamentals of supply and demand are followed. Historically, this event has been followed by a general market revival.
Another sign that the Bitcoin price may rise further in the near future is that investors are turning to self-custody methods from centralized platforms.
According to CryptoQuant, BTC exchange network flows have been predominantly negative for the past few weeks, with a large red candlestick chart appearing on March 1. Storing assets in personal wallets indicates increased confidence among investors and their desire to stay in the market for the long term. . It also reduces immediate selling pressure. This trend could fuel advances in services designed to simplify self-custody for a broader range of users, potentially attracting new participants and motivating existing investors to increase their exposure. Historically, the peak of Bitcoin's bull cycles has coincided with record interest in terms of Google searches. It coincided. The asset's popularity on the world's largest search engine has indeed increased over the past few months, but is still well below levels observed at the end of 2021 (when an all-time high of almost $70,000 was reached). Ethereum (ETH), Ripple (XRP), Cardano (ADA) and many more leading altcoins also need to catch up with the record interest observed three years ago, meaning they may be on the verge of another bull run. Alright.
