What is the difference between Bear market and Bull market?

A bull phase refers to a economic scenario with booming investor confidence and surplus liquidity as a result of which everyone is buying shares and the prices of stocks are going up. It is termed as a bull phase because there is control/limit on the amount to which the prices go up. It is uncontrollable like the run of a raging bull.

A bear phase refers to a economic scenario with diminishing investor confidence and lack of liquidity as a result of which everyone is selling their stocks. the prices of stocks come down crashing.