In the course of your dealings with cryptocurrencies, Forex, Stock and trading in general, you must have come across the terms Bullish and Bearish but you probably never really understood these terms. They are simply used to characterize market trends in cryptocurrency, Forex, stock market or anything that has to do with buying and selling.
In trading, bulls are those with the mindset that prices are going to go up. A bull enters the market with the intention to buy. They usually think "long" meaning they hope to sell at a later date when the price of the asset has gone up as they speculated.
Being a bull for a cryptocurrency coin means that you speculate that the price of that coin will go up. For instance, right now, I am an SBD bull because I believe that the price of SBD is going to take an upward trend and as such I go "long" on it; Meaning I buy/invest in the coin in anticipation of my speculated rise. Being a bull is synonymous to being optimistic about the future of a coin.
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A bullish market is one that price is surging upwards. Right now, the STEEM market is extremely bullish. Prices have been rocking upwards.
A bullish market usually happens when there's high confidence in the viability and potential of a coin. Speculations are what drive market trends. For instance, the price of IOTA saw a huge upward trend the moment Microsoft declared it was partnering with them. Most Investors saw the potential and the likelihood of the coin to succeed and as such they went long on it.
Bears on the other hand are those with skepticism as regards the price of a coin. They are those parties that intend to leave the market. They fear that prices would go downward so they are in a position to sell their coin before it goes further downward as they speculate. They are kind of like the pessimists with regards to a coin. About some months ago, I bought some DASH when the price was relatively at support level. I had a bullish mindset initially and was anticipating its rise. However that never came. DASH broke its support level and continued to fall drastically. At that point, I became a bear. I had lost hope in the viability of DASH and I wanted out. I needed to go "short" on DASH. I was afraid it would go even lower and was waiting for the slightest chance to sell it out the moment it increased even by 1%.
Even in that DASH bearish market and a lot of bears in the arena, there were still some that had the bullish mindset. These bulls surged into the market with their horns and expectations of increase.
The names come from the kind of movement these animals make when they fight. A bull thrusts its horn forward and upwards towards its victim while a bear swings its claws downward at its victim.
These terms are widely used in trading and it is very important that you become acquainted with them so you don't get lost in a market/trading conversation.
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