Hello, by now you are familiar with these my knowledge inquest series. So I landed in SCORUM a few months back and began to hear things like bear market, mooning, adoption. I was lost and needed a compass to keep me navigating in sync with this new community I have found myself in. So I had to ask @Pete what's up with all these terms and out came some very useful insights especially if you are new to the Scorum ecosystem.
"Adoption" refers to the time when the general public finally accepts new technology. As a practical example of what adoption looks like Mr @Pete tells a short story– “ I remember the very first video gaming system and the first video game "Pong." As soon as I could afford to purchase a gaming system (I could not afford the first one "Atari" when it came out) I bought the latest and best on the market which at that time was a Mattel Intellivision. I also remember the first video camera "Beta vision" and the first mobile phone. I purchased one of the very first home computers systems long before they were "adopted" by the general public. Usually it is wealthy people, or at least people with really good jobs, who purchase and try out these new items when they first hit the market. Later, as more and more people begin to buy and use these new products the price starts to drop and the technology becomes easier to use and the next thing you know everyone has video games, video cameras, home computers, and mobile phones."
Everything that is traded has a market, this is where the value is established for the item being traded. Most of the time the item has several markets where it is traded against some other item. How many eggs does it take to purchase one loaf of baked bread etc. But in our modern world most things are priced in currency on the big exchanges and markets. The values of items traded tend to move in cycles, if the price of eggs begins to rise it encourages more people to raise chickens, if enough people start raising chickens and selling eggs then there will be a glut of eggs on the market and prices will fall. These cycles have been named, if the price of eggs is steadily rising over a period of time it is said to be in a "Bull" market. If the price of eggs begin to drop over time they are said to be in a "bear" market. But markets also tend to have larger cycles where a large portion of similar items Like Company Stocks, Bonds, Food, or even Currency itself, can enter into Bull or Bear markets. So a bull market happens when securities are on the rise and it's a "bear" when securities fall for a sustained period of time.
It can be recalled that cryptocurrencies entered into a bear market at the end of 2017, many of them have recovered and are now in a new bull market. It's only recently we now have a bear market upon us, such that there is sell pressure pervading the place. However, data analysis point to this bear market not likely to persist for long. We maintain optimism afterall the Bear as an animal appears very meek and disinterested, yet when truly provoked it can rage like a bull.[smiles]
Cheers
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