The price of Bitcoin is uncertain so it goes up and down all the time. The longer we stay in a bull market, the more bitcoin prices will continue to advance. But most bull runs only need to be recorded when bitcoin prices reach their highest levels, as the bull market season that follows each halving is when bitcoin prices hit their highest highs.
Bitcoin price volatility is a constant, with fluctuations occurring regularly. Extended periods of bullish market sentiment drive prices upwards. However, significant price surges are typically observed during peak levels, especially following halving events. These halving events, reducing miner rewards, often coincide with periods of peak market performance, leading to the highest recorded Bitcoin prices.