As a Bull Market, we define the market where prices are rising or there is a strong expectation that they will go up. It is an optimistic situation where investors have the belief and expectations that good results will continue.
As a Bear Market, we define the market in which prices have a downward trend or there is a strong expectation that they will go down. It is full of fear and pessimism.
We have to understand that short-term fluctuations in prices are more often the result of investors' psychology rather than changes in the fundamentals and characteristics of a currency.
“One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” -William Feather