As a project manager in learning, staying abreast with the current trends is of utmost importance, especially when I immersed in the cryptocurrency scene recently. To start off, I’d say that interpreting trends in stocks and cryptocurrency is largely similar, even though they ultimately have very different characteristics and volatility.
In essence, when the market is doing well, it is a bearish market. When it is not, it is a bullish market.
A bullish market is one where everyone is goes forward to take greater risks for bigger bucks, akin to the behaviour of the bulls when they see an opportunity to charge. It is typically driven by a strong economy with low inflation and optimistic investors. This is the period where employment levels are high and people have a more stable income, contributing to confidence. Stocks and cryptocurrencies are rising in value, and achieving peaks from day to day.
Think of how the graphs look when the market is confident, and connect that image with of an attacking bull with its horns thrusting upwards.
One of the ways people use “bullish” is to describe their belief in an asset or a currency. Saying that you are bullish SPIKE, means that you believe that the value of SPIKE tokens would increase. Being bullish does not mean that the said person would act on his/her belief though.
You must be asking: what are SPIKE tokens? We will get to that soon.
So if a bullish market means confidence, then bearish is the opposite of that. Think of how a bear attacks its prey — by clawing downwards on it. Stocks and cryptocurrencies are not looking good — their values are either plunging to their lows or having a long standing slump. Employment prospects are pretty bleak as well.
The widespread pessimism dilutes the demand for stocks and cryptocurrencies.
However, a slight decline (<20%) in prices does not necessarily mean it is a bear market. It may be signs of a market correction instead. The idea is that whenever a stock or coin is overvalued, people will sell it because they want to earn more. Soon, more will identify the opportunity and try to sell them as soon as possible to achieve the same benefits.
So how does Spiking help?
Whales are the big players of the game. They are able to control the prices of the coins by holding a huge amount and if they dump it all at once, the prices of the coin will drop tremendously.
The Spiking platform intends to use smart contracts on the blockchain to allow followers to mirror the activity of these whales. Followers would have a clearer direction in how they can execute their trades, no matter the market sentiment. When followers earn from following the whales’ trades, the whales are rewarded with 21% commission fee from profits generated by their followers. In this case, the whales are incentivised to be more careful in their movements so that their followers can earn as much as possible. The followers receive 71% of their profits plus a return of their capital and the remaining 8% goes to the platform fee.
SPIKE tokens will be the currency by which the rewards are being administered. As these transactions are held on a decentralized network, it would be fast, efficient and accurate. Some other uses of the SPIKE tokens are paying users when they write reviews, refer friends and performing well. You can also use the SPIKE tokens that you have earned for the Certified Smart Traders (CST) by Spiking as well.
By Keith Tan, Project Manager
Drawing from its successful and rich experience in the stock market since 2016, Spiking is expanding to cryptocurrency trading! With its unique and powerful trading tool and its AI robot Robobull, Spiking enables traders to easily find whales and mirror the trades automatically. At Spiking, we strive to help traders make better decisions and take the steps toward fulfilling their dreams of achieving financial freedom. Check out Spiking App, Top Grossing Finance App at App Store & Google Play.
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