Crypto/Technology
Hello my fellow steemia, how are you doing? Hope you guys are doing well. Am so happy to write about this contest that is been launched by @steemkidss. With this amazing topic, Crypto/Technology.
As a newbie in the crypto space I decided to make a little research on the movement of different crypto assets or the phases of the market which are the bullish and bearish market.
I'm sure a lot of you may have known these types of market in the cryptocurrency space but I want to also explain a little of my knowledge about it since I'm also learning and I believe someone also will have something new to pick from this as well.
During my studies I was able to use the STEEMUSDT as a case studies. So my analysis today will also be based on that. So let's look at the bullish market together.
Bullish Market: The bullish market is a type of market where the price of assets keeps going higher high and this implies that there are many buyers in the market which means the purchasing power at that point is very high.
During this phase of the market, cryptocurrency holders make a good amount of money because they assets they are holding may be making 50x+ of their initial portfolio. Also thesame goes to traders who predicted the movement correctly as they are also going to make a very good ROI.
Bearish Market: The bearish market is a type of market where the price of assets keeps going lower low and this implies that there are many sellers in the market which means the selling power at that point is very high.
During this phase of the market, cryptocurrency holders may not be making much profit as the price of the asset will be dropping. So the screenshot above shows a bullish and a Bearish market.
I want to invite @simonnwigwe, @josepha, @bonaventure24 to also join the contest here in this community.