Crypto Terminologies I have Learned So Far

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Avatar for Jonjonjon
3 years ago

I have introduced to cryptocurrency three months ago, and it's when I met the platform called Noise.cash. As we all know noise is a microblogging platform that allows its users to earn from posting in the platform and get paid through Bitcoin Cash (BCH), and many of its users are crypto enthusiasts.

In using the platform every day for that long, I encountered such terms from different people that I think only people who are into crypto can relate to or understands. And being someone who is just fresh in the crypto industry It's hard for me to interact and deal with them.

If you are also new in this field, this article might help you somehow.

Here are the Crypto Terminologies that I have encountered so far.

  • FUD- Fear, Uncertainty, and Doubt.

  • FOMO- Fear Of Missing Out.

  • HODL- Hold On for Dear Life.

  • MOONING- Price going up high.

  • FIAT-Government Issued Currency.

  • ATH- All-Time High. A highest a coin has ever been.

  • Bullish- Expecting the price will increase.

  • BEARISH- Expecting the price will decrease.

To better understand these terminologies, I did a little bit of research on this matter.

FUD (Fear, Uncertainty, and Doubt)

According to Wikipedia, FUD is generally a strategy to influence perception by disseminating negative and dubious or false information and a manifestation of the appeal to fear.

but in cryptocurrency, according to Coin Market Cap, FUD is a strategy to influence the perception of certain cryptocurrencies or the cryptocurrency market in general by spreading negative, misleading, or false information

So basically FUDs are caused by influential personalities, known companies, and powerful nations. A single word from these individuals can affect the cryptocurrency market as a whole.

FOMO (Fear Of Missing Out)

FOMO is the feeling of anxiety or the idea that other people are sharing a positive or unique experience. While on the other hand, you are missing out.

FOMO feeling is usually experienced or happens to us who are new to crypto. But we can overcome it as we learn more strategies along the way. An article I saw might help you on how to overcome FOMO.

HODL ( Hold On for Dear Life)

According to Investopedia, HODL is a term derived from a misspelling of "hold" that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.

This term is the very first one I have encountered because this is the very advice crypto enthusiast give to newbies in crypto. I usually hear it from them especially when the current market value is low.

MOONING (Price going up high)

It refers to the price of a certain cryptocurrency raising in price rapidly and sharply. In usage, cryptocurrency traders would say that the coin is “Going to the moon!.” It implies that the price is on a rocket ship.

This term is seen in different platforms when cryptocurrency (especially Bitcoin Cash) prices going up. There are also memes about this which is interesting and fun at the same time.

FIAT (Government Issued Currency)

Investopedia said that Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government, rather than the worth of a commodity backing it as is the case for commodity money.

Here in the Philippines, FIAT is often called Peso. In comparison to the US dollar, 1 USD is equivalent to 48 PHP. We have an online wallet available in the country wherein we can directly buy cryptocurrencies like BCH, XRP, and ETH using fiat and it is called coins.ph.

ATH (All-Time High)

ATH is short for “All-Time High”, and is defined as the highest value an investment has ever reached in its history.

let's take BCH for example, Bitcoin Cash currently had an all-time high of $3,721 over 3 years ago, that's the highest value ever reached in history.

Bullish (Expecting the price will increase)

This refers to a positive trend in the prices of a market. It is broadly used not only in the cryptocurrency space but also in the traditional markets.

A bullish or bull market term is being used when the prices of cryptocurrencies rise over a relatively short period of time.

It can be used loosely to refer to any strong market activity, it is often utilized in traditional markets when the price of an asset rises 20% or more from its previous low point. Typically, a bull market arises when investors are optimistic about the future performance of an asset or the overall market indexes.

BEARISH (Expecting the price will decrease)

The opposite of a bull market is a bear market, which takes place when investors are feeling pessimist. Falling prices (bearish trend) create a negative market sentiment and as traders feel less confident, they tend to sell more and more, causing a further decrease in prices and often what is known as capitulation.

Or in simpler terms the prices of cryptocurrency in the market are falling.

There's an article from @Laurenceuuu the was published a few hours ago that you also might wanna check. It was entitled "Common Terminologies that used in the crypto verse.

https://read.cash/@Laurenceuuu/common-terminologies-that-used-in-crypto-verse-5bc6e352

A screenshot of Laurenceuuu's article

Conclusion

Understanding these terms will help you and will guide you along your journey in the crypto industry. This will help you understand and relate to conversations about cryptocurrencies and the market in general.

There are lot more terminologies out there but don't rush yourself to learn them all at once. Enjoy the journey while learning and exploring.

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Sources:

FUD by Coin Market Cap: https://coinmarketcap.com/alexandria/glossary/fud#:~:text=An%20acronym%20that%20stands%20for

FUD by Wikipedia:https://en.wikipedia.org/wiki/Fear

FOMO:https://gbv.capital/what-does-fomo-mean-in-crypto/#:~:text=FOMO%20in%20the%20context%20of

HODL: https://www.investopedia.com/terms/h/hodl.asp

MOONING: https://unblock.net/glossary/mooning/#:~:text=What%20does%20mooning%20mean%3F

FIAT: https://www.investopedia.com/terms/f/fiatmoney.asp

ATH: https://decryptionary.com/dictionary/ath/#:~:text=ATH%20is%20short%20for%20%E2%80%9CAll

BULLISH and BEARISH: https://academy.binance.com/en/glossary/bull-market

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3 years ago

Comments

Thanks for the mention and attaching my article, goodluck to your journey in crypto verse.

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3 years ago

You're welcome sir laurenceuuu. I thought it's helpful especially to those who are new to crypto verse. Thank you .

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3 years ago