What is the real difference between bull and bear market and how can one utilize them to make some good profits?
Here's the major difference from a technical perspective.
When it's a bull market, you try your best to buy high and sell higher. The market will significantly go higher fast so the timing is very important. Overconfidence and greed are those factors that make people lose their money when it's a bull market. You make good profits by setting a reasonable target for an asset or a coin you are investing in or holding. Once it is hit, you will get out happy with your profits and not be greedy.
During a bear market, if you don't know how to short a position then your highest priority is to preserve your capital and remain patient. What's going lower will remain going lower until the market sentiment change. Just like being bullish, timing is very important. Don't stress too much about catching the bottom, there will always be a lot of movement in the middle of the expansion range once it starts reversing back and going higher.
Don't forget one more sentiment which is a rangebound market. This is where we are currently. During this time investors remain liquid and in stablecoins. So that if the price shows its hand to a better market condition, investors have the cash to engage the market. So can you.