Bulls vs Bears

Psychology of a bear

1. There is a chance that prices comes down and the bet is that prices will stay down for a long time
2. Higher probability of buying low because of lower price and larger time
3. Fear of not being a price taker in a bear market

Psychology of hold

1. Even if the price goes down, it wont stay down for a long enough duration. So not worth selling
2. There is a low probability of prices going up in the near term, but if I get out, it may be hard to get back in 

Psychology of a bull

1. Prices will go up in the short to medium term
2. The current prices are a bargain factoring in future earnings and revenue growth
3. Even if there is some short term variance, in the medium term the asset will be worth more and there is no reason in the horizon to liquidate this asset