What is Bull?
Let's find out Bull meaning, definition in crypto, what is Bull, and all other detailed facts.
In both the traditional and crypto markets, bulls are known as investors and traders who expect the price of an asset to increase and base their market strategy on this presumption.
The strategy of bulls is based on buying an asset at a low price and selling it at a higher value. The term likely originated from a bull’s style of attack by pointing its horns upward.
Bulls hope to make profits with their trade strategy as they expect the price of the asset to increase from the rate at which they purchased it. They tend to hold an optimistic outlook on the market conditions. Their market strategy is described as “going long” – they wait for the value of the assets they purchased to progressively increase over time.
The opposite of the bulls in the market are bears. Bears hold the belief that the price of an asset will decrease, and thus they adopt the strategy of “shorting” their assets.
Bull can also refer to the overall market conditions. A bull market reflects the scenario when the prices of most or all assets are steadily increasing over a longer period of time.
The prices of assets in a market can change positions several times in a single day, moving upwards and downwards. The shifts are caused by the activities of day traders. If the prices are steadily moving upwards for an extended time, the market can be referred to as bullish.
The dynamic in the crypto market has been leaning towards bullish since its inception in 2009. The price of the first and largest cryptocurrency in the world, Bitcoin (BTC), has steadily increased since March 2010, when it was valued at $0.003 per coin. In November 2021, Bitcoin was valued at $61,000 per coin.
There have been price fluctuations throughout the years. However, the overall trend of cryptocurrencies has remained bullish.