Not necessarily. The external environment such as economic crisis, debt crisis, real estate bubble, war and natural disasters has greatly disturbed the stock market. As short as three months, as long as two years, for example, the bull market in China stock market lasted for one year in 2006-2007. 07-08 was a bear market, because of the impact of the US debt crisis and the Wenchuan earthquake in China. From the end of 2008 to 2009, it turned into a bull market, which was caused by the introduction of many rescue policies by the state. 1 1 Now it has become a bear market because of government regulation.

The so-called "bull market", also known as bull market, means that the stock market is generally bullish and lasts for a long time. The securities market here generally refers to common stocks, bonds, futures, options (options), foreign exchange, funds, negotiable certificates of deposit, derivative financial products and other securities. Other investment speculation markets can also be described as bull market and bear market, such as housing market, postal (ticket) market and card market.