What we have seen the last few days is a battle between the Bitcoin Bulls and the Bitcoin Bears.
The terms "bull" and "bear" market is used to describe how stock markets are doing in general - that is, whether they are appreciating or depreciating in value. At the same time, because the market is determined by investors' attitudes, these terms also denote how investors feel about the market and the ensuing trends.
Simply put, a bull market refers to a market that is on the rise. It is typified by a sustained increase in market share prices. In such times, investors often have faith that the uptrend will continue over the long term. Typically, in this scenario, the country's economy is strong and employment levels are high.
By contrast, a bear market is one that is in decline. Share prices are continuously dropping, resulting in a downward trend that investors believe will continue, which, in turn, perpetuates the downward spiral. During a bear market, the economy will typically slow down and unemployment will rise as companies begin laying off workers.
Read more: Digging Deeper Into Bull And Bear Markets https://www.investopedia.com/articles/basics/03/100303.asp#ixzz59oBZl9gv
The Bulls and the Bears are putting up their money in what they believe will happen over the next few days in Bitcoin. The amount of money that are betting on the price will go up is at all time high, however the amount of money that are betting on the price will go down is also at a all time high. But there will only be one winner.
What will happen in the end is when price rises above X today/tommorow, all these people that are bear will be underwater and they are going to be forced to market buy and the same thing will happen if the price goes down under X the bulls will be forced to market sell.
( so they dont lose more money )
If the Bears wins the market today/tommorow we can see a short-term bear market that can go all the way down to $5000, if the Bulls wins the market we can potentially see all-time highs in the near future. So the next few days will decide the short/mid-term market.
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⚠️⚠️DISCLAMER⚠️⚠️
I am a hobby investor. I am not a financial advisor. Please do not take anything I say as tips or advice. I am only sharing what I am thinking, and what I am doing.
Always do your own diligence
NEVER invest any more then you are willing to lose.
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