New: Wallet recovery made easy with Ledger Recover, provided by Coincover

Get started

Up your Web3 game

Ledger Academy Quests

  • Test your knowledge
  • Earn POK NFTs
Play now See all quests

Bull Market Meaning

Jan 2, 2024 | Updated Jan 2, 2024
A bull market is a period of sustained upward trend when asset prices are steadily increasing.

What is a Bull Market in Crypto?

A crypto bull market (bullish market) defines a market with a strong positive trend in cryptocurrency asset prices. It occurs when cryptocurrency asset values surge by 20% or more from recent lows. Individuals with positive sentiments about the cryptocurrency market are known as “bulls” and are said to be “bullish”.

Typically, there is a positive market sentiment as investors are optimistic about crypto assets. They are driven by greed and fear of missing out (FOMO) on profitable opportunities when the prices increase further. As such, the buying pressure is relatively high in bullish markets, upsetting the forces of supply and demand. This makes the cryptocurrency prices to rise. The most recent bullish market was in 2021. 

Bull markets exhibit characteristics such as:

  • A steady increase in crypto prices
  • Demand is greater than the supply
  • Positive investor sentiments
  • General optimism and confidence even on social media platforms.
  • Increased trading volume or market activity.

What Causes Bullish Markets?

They are generally caused by investor confidence and optimism that an asset’s price will continue rising and they will benefit from purchasing now. In traditional markets, it could be a strong economy characterized by low unemployment rates and high gross domestic product (GDP), which boosts investor confidence.

In cryptocurrency markets, the emergence of bull markets is sometimes influenced by a simple “To the moon” tweet from an influential figure in the crypto space. A display of confidence in cryptocurrency by giant traditional financial institutions can also jump-start an uptrend. 

However, bull markets do not last forever and there is no way to tell how long a cryptocurrency bull run will last. Hence, the crypto market will experience price correction at some point. And when asset prices start declining, investors are likely to panic-sell, causing a downward trend in prices. If the asset prices decline by 20% or more from recent highs, it is considered a “bear market”, the opposite of a bull market.


A keylogger is a tool deployed by hackers to record keystrokes and access sensitive data from a victim’s computer. In the crypto industry, cybercriminals often use it as an instrument to steal important information.

Full definition

Identity Verification (IDV)

Identity Verification (IDV) is the process of confirming the validity and authenticity of an individual’s identity. The process involves validating the individual’s personal details from reliable sources to prevent fraud.

Full definition

Layer 1 Blockchain

Layer 1 is the foundational layer of a blockchain network that provides the underlying infrastructure to securely process and validate transactions.

Full definition