The Tech Quiz - Season 24

Hello everyone,
It's your favorite Steemian @rakiya from Nigeria and I'm delighted to join in this contest organized by @malikusman1 in this noble community today. It's a wonderful contest and I love to share my participation in it.

Source

What is the Bull market? Please Explain.

The bull 🐂 market in my little knowledge is the market where the prices of the asset at that period are going in an upward direction. This means that the bull 🐂 market is a market where prices catapult to a new higher high level.

In the crypto market, there are different seasons, and one of the seasons where the traders and investors smile the most is the bull market season. This is because the total value of your asset can move from 00-0000.

Normally, people who don't trade buy an asset when the price is much lower and then sell it when the price is much higher. So the sales of this asset are mostly during the bull run because the prices may give you 2x or 5x or even more of what you initially bought the asset.

What is the bearish market? Please Explain.

A bearish market on the other hand is a market where the price of the asset declines or decreases. This means that here the prices are always going down and this is the main time traders who are holders buy and hold waiting for the bull run when the price will go upward.

The bearish market has to do with the drop or the decrease in the price of an asset. For instance, the price of BTC came down from $75,000 to around $60,000. This is a big decrease and if you have invested money when the price was at $75,000 it means you have lost some money already.

The bearish market causes holders to lose their money if they initially bought the asset at a higher price. So bearish market in summary is a market that continues to go down from its initial price until a bull market sets in to pick the price upward again.

How we can avoid risk and make a profit in both markets?

To avoid risk and make a profit in both markets, you must have an idea of how crypto trading works. For crypto traders, whether the market is going up or coming down, they still make a profit because theirs is to make proper predictions.

So in my opinion for you to make a profit in both the bullish market and the bearish market, you need to understand the crypto trading pattern i.e place a buy order when you are sure that the price will rise and then place a sell order when you are sure that price will fall.

I want to invite @jasminemary, @vickyson, and @ruthjoe to join the contest also.