A bull market is a market condition characterized by rising prices and widespread optimism. In cryptocurrency, a bull market typically refers to a sustained increase of 20% or more from recent lows.
Characteristics of a bull market include increasing prices over an extended period, positive investor sentiment, higher trading volumes, FOMO (fear of missing out) among investors, and media attention driving new participants.
Bull markets can be triggered by various factors including technological developments, institutional adoption, regulatory clarity, macroeconomic conditions, and halvings reducing supply.
While bull markets present opportunities for gains, investors should be cautious of overextending, maintain proper risk management, and avoid buying into unsustainable hype.