What Is a Cryptocurrency Bull Run? Elon Musk Tweets, then deletes the meme “Bull Run Is Over.”
Elon Musk used Twitter on Monday to make a snide remark about cryptocurrency enthusiasts before quickly deleting the message.
“The cryptocurrency bull run is over,” said Elon Musk, the billionaire CEO of Tesla and SpaceX.
The post also contained a witty list of crypto investors’ next moves, which included “getting hair plugs,” “moving to Los Angeles,” and “leasing out a Mercedes G-Wagon.”
Musk is a proponent of cryptocurrencies and has claimed that he prefers it to traditional currency. Despite this, the tweet elicited a barrage of teasing responses.
Wow, that was incredible. When everyone began pointing their hair plugs at @elonmusk, he removed the post. What are your thoughts? pic.twitter.com/sfplR8nxsK @michael saylor
May 25, 2021 — Legendary Supasaian (@LSupasaian)
pic.twitter.com/ZQJHunZlCS Tragic tale
May 25, 2021 — Jason A. Williams “Parabolic Man” (@GoingParabolic)
What is a bull race, exactly?
A bull run is a financial term referring to a situation in which a particular asset or market is on the rise. The term is most often associated with the stock market, but it can be applied to any type of trading.
The length of a bull run can vary, but a rise generally has to take place over an extended period in order for it to be classed as such. It may last for months or even years.
Causes of a bull run can also vary. Prices may go up over a long period of time driven by factors such as optimism and confidence on the part of investors.
A market that is subject to a bull run may be called a bull market. A bull market is the opposite of a bear market, in which asset prices tend to decline over an extended period of time, perhaps driven by pessimism.
Investors can also be said to be “bullish” about an asset or market if they expect it to go up, and “bearish” if they expect it to go down.
The value of the cryptocurrency market as a whole has experienced a rapid rise since the start of 2020, when all coins in circulation were worth a total of around $185 billion, according to CoinMarketCap data. By mid-May 2021, this figure, known as the market cap, had risen to more than. This is a brief summary.