Bears vs. Bulls
It’s so ridiculous when in a cryptocurrency trading advertising they tell about “bulls” and “bears”, drawing parallels with types of traders in the classical stock market.
Why is it funny? Because such a comparison has no relation to cryptocurrencies. I will explain a little who “bulls” and “bears” are. “Bulls” are the traders, who earn their money on the growth of an investment asset. They have bought Apple stocks for $78, have received a signal that for $80 there will be a turn, correction and for $79 they sell it!
“Bears” use quite the opposite strategy. They understand that some company is overheated or some sector of economy will fall down soon or they saw Vanga in their dreams and she has told them, that stocks of Apple will fall in price. Then the “bear” comes into the market for $80, and through some time covers the sale for $70 and thus is in a profit. On slang it is called to “go short”. Naturally, sometimes “bulls” become “bears”, and “bears” – “bulls”. To remember who are “bulls” and who are “bears”, remember the rule: bears press, bulls raise on horns!
And, if you are clever enough, you have already understood why in case with cryptocurrencies a parallel with animals has no relation. Only if you are a “bull”, buy on bottoms and sell on tops.
And, of course, in crypto industry it is impossible to go short because it simply doesn’t have such tools. What you can do is to buy bitcoin on bottoms, for example, as now, for $11000, to wait the price to be at $16000 and to fix it in USDt or in a real dollar. And to repeat this scheme.