Bears and bulls are all part of the crypto cycle. They usually depict an upward or downward trend, in terms of price. However, the crypto sphere is growing bigger and accommodates more non-technical persons. So it worth understanding the investor's views on the subject.
P.s investment can be in fiat, crypto, time or service
What does it mean to be bullish?
Fortunately, I came across two definitions that capture the dichotomy in my mind.
Definition 1:
marked by, tending to cause, or hopeful of rising prices (as in a stock market)
Definition 2:
optimistic about something's or someone's prospects
Definition 1 encapsulates the sentiments surrounding cryptocurrencies at the moment. Usually, they are short-termed and requires little or no know knowledge about the project invested. Charts, figures and news rule this segment
What are the charts saying?
What does selling or buying pressure look like?
What's the news saying?
I tagged this as informed speculation. Some of the biggest players in the industry fall into this group.
Definition 2 is based on sentiments about a project. More emphasis is placed on the project rather than the monetary valuation. While most people enter the market looking for short and mid-term gains, another search for projects that worth something in the long run.
I tilt towards definition 2 because I do not have the technical knowledge to play the market and would rather not. That comes with the price of losing out big on some gains. There are no ideal situations here.
Currently, there two crypto projects I am interested in hive(blurt) and bat. This is simply because they content based tokens. As a content creator, you should under my bias towards this tokens. Asides that, I feel these coins have a greater reach than most cryptocurrencies out there, and it is only a matter of time before they reach their full potential in terms of price and coverage.
So when I say I am bullish, I am most definitely talking about the value of the project and its network effect rather than its pricing. If leofinance (one of the projects I am interested in currently) becomes a platform of over a million active users and I amongst the top 100 content creators, that's more money and exposure than I can ever get from upvotes. Do you ever wonder why certain influencer come into your domain and they earn more than you do for putting in less work and time while you're churning out content daily? That's because they have a brand. A brand that is recognised within your sphere. Some have more than enough in stake to command respect but have little or no influence in their community/tribe.
We all see crypto from different viewpoints which impact our perspective on a lot of things. I will like to hear from you, what do you mean when you say you're bullish? Share with me in the comment section.