A person that is optimistic and confident that market prices will increase, this person is also known to be “bullish” about the market or price.
What is a Bull?
Bull, or “bullish,” can refer to:
A. traders or investors who base their strategy on the expectation that an asset will increase in price;
B. market conditions in which most or all assets are steadily rising in price.
A. Traders who employ the strategy of buying an asset low and selling it high — based on the expectation that that asset’s price will steadily increase over time — are traditionally called bulls. The term most likely refers to the way a bull attacks with its horns in an upward motion.
Bulls are optimists who believe that their chosen asset(s)’ fundamental characteristics or the overall market conditions are conducive to a steady increase in price over the long term. As such, they “go long,” i.e. they buy assets at low prices and wait for them to increase in value to be sold down the line.
B. The term bull market can be used to describe a market in which assets are steadily increasing in price over the long term.
Due to the activities of day traders in any market, asset prices can go up and down multiple times per day. However, if over a long-term period most assets exhibit an aggregate upward trend, that market can be described as bullish.
The cryptocurrency market has displayed a clear bullish dynamic over the years of its existence since January 2009. Bitcoin (BTC), the original and largest cryptocurrency, has gone from $0.003 per coin in March 2010 to about $15,000 in November 2020, despite multiple — sometimes massive — declines along the way.