Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I see some people are talking about bears and bulls? What the heck does this have to do with bitcoin anyhow? I'm a total newb by the way....
In stocks there are "bear markets" and "bull markets."
For an over simplified description:
Bears are pessimists
Bulls are optimists
Bears believe the price is going down
Bulls believe the price is going up
Why anyone who is involved with BTC enjoys being a "bear" is beyond my understanding. Sure, bear markets are a part of the cycle but I would think logically being a long term "bull" makes more sense.
Because it is the way you make money in a bear market like this one for 16 months?
Follow the trend and make money. Don't fight against it.
I get that. Taking advantage of the trend is smart, if you have the ability to do so. But when the price starts to swing the other direction do these same people become "bulls" or do they just stay "bears?" I have respect for those that are bears in a bear market and bulls in a bull market and have the wisdom to see which market we are actually in!
