The term bear market refers to a negative trend in the prices of a market. It is widely used not only in the cryptocurrency space but also in the traditional markets, such as stocks, bonds, real estate, and commodities markets.
The term bull market refers to a positive trend in the prices of a market. It is broadly used not only in the cryptocurrency space but also in the traditional markets. In short, a bull market concerns to a strong market uptrend that presents meaningful rising prices over a relatively short period of time. When compared to traditional markets, cryptocurrency markets are smaller and consequently more volatile. Therefore, it is quite common to see strong and consistent bull runs, where a 40% price increase in 1 or 2 days is quite common.