A bull market is a positive sentiment in the global financial market when the price of assets rises or is expected to rise. In financial trading, a bull or bullish market is considered an excellent time to buy and hold, an effective strategy to grow profits.
In the crypto market, a bull market is symbolized by an increase in the price of Bitcoin, Ethereum, and other leading altcoins. Such a bullish mood among investors increases buying activity across the market, encouraging the price of most crypto assets across the board to make gains on the back of more substantial investor confidence.
In addition to buy and hold, another effective trading strategy in times of a bull market is monitoring retracement. It’s an effective way for spot traders to make quick profits in financial instruments. A bullish mood indicates optimism among investors that prices of assets will continue to strengthen shortly and could last over weeks, months, or even years.