A bull market is the condition of a financial market in which prices are rising or are expected to rise.
The term “bull market” is most often used to refer to the stock market but can be applied to anything that is traded, such as bonds, real estate, (crypto)currencies, and commodities.
Because prices of securities rise and fall essentially continuously during trading, the term “bull market” is typically reserved for extended periods in which a large portion of security prices are rising. Bull markets tend to last for months or even years.
The commonly accepted definition of a bull market is when stock prices rise by 20% after two declines of 20% each.
Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.