The first such parade took place on September 22, 2004, organised in part by bicycle couriers.

The event was held annually until April 20, 2013, then revived in 2019, to mark the 15th anniversary of the first Critical Mass.

The Cyclists’ Club also arranged a shared cycling event in recent years under the title I Bike Budapest. Such an event was held in April this year.

Facebook event for futher details  - also available in English

More about Critical Mass

"Critical Mass is a form of direct action in which people travel as a group on bicycles at a set location and time. The idea is for people to group together to make it safe for each other to ride bicycles through their streets, based on the old adage: there's safety in numbers.

Critical Mass events highlight the numbers of people who want to use their bicycle on the streets, but are usually unable to do so without risking their safety. 

They are a call to action to councils, governments and road planners to properly and thoughtfully design in the safety of all road users, including those who would prefer to walk and cycle, instead of prioritising motor traffic above all else.

The event originated in 1992 in San Francisco."

More:
Wikipedia

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