It is hard to interact on different crypto-enthusiast or on the people who is “serving” in the crypto industry for long time especially if they are using different terminologies that you are not familiar.
Don’t worry, I also experienced it until now but despite of that, I tried to study some basic terminologies that can be helpful in the world of cryptocurrency.
In the end of this article, you will know the following:
What is HODL?
What is FUD?
What is FOMO?
What is the meaning of indicators?
Before we start, remember that the information is based on my research with a touch of my understanding. I still recommend doing your own research.
What is HODL?
If you read our previous article entitled “things that you need to know as a crypto holder”, you probably know this. Let us discuss the history of this term. If you are thinking that this is a misspelled word of HOLD, then you are correct!
In the year 2013, someone posted this on a bitcointalk forum, this guy named GameKyuubi, he said that he has a poor trading skill and post this statement on the forum, “I AM HODLING”.
He said it unintentionally because he is drunk, “I type d that tyitle twice because I knew it was wrong the first time. Still wrong. w/e” he said.
Honestly, I did not understand what he had said on the second statement because it has a lot of typographical errors.
To make this short, HODL is a term derived from a misspelling word of “hold” in the year 2013. It is simply means holding your assets to avoid the FOMO and selling in time of FUD. They said that this is the best thing to do if you are a poor trader because you will gain more profit than trading.
What is FUD?
It is an acronym that stands for Fear, Uncertainty and Doubt. One of the worst but effective strategy of big institutions to gain more profit. It is simply means spreading false information and negative things against to crypto market so it will immediately crash and buy the opportunity as more people will believe on it and buy the fear.
This is one of the problems in the market and crypto people. They let those institutions to manipulate the market, in the end, those institutions had a profit while the small investors that has paper hands sell their assets instead of holding it.
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What is FOMO?
According to Wikipedia, it is a social anxiety stemming from the belief that others might be having fun while the person experiencing the anxiety is not present.
This term is also applicable in crypto verse, it is when a coin is currently pumping and having a massive pump then you want to follow the trend, thinking that you will gain more profit so you will buy this coin even in the high price and if the worst thing happened, it would suddenly drop, and you will be stacked on the top.
Always remember the principle, buy low and sell high. Be advance and do not buy the current hype because it would possibly cause losses instead of profit.
What are the indicators?
It is a set of tools that can be used in analyzing the price movement of the market. Using different indicators, traders can predict the possible trend that will happen on the market resulting to gain more profit. We can determine if the coin is overbought or oversold with the help of these indicators.
However, some people said that some indicators are not accurate because there are times that the price movement is manipulated by different institutions. Additionally, you should have a deep understanding to read the market easily and it will take much time to do it.
Conclusion
In crypto verse, it is important to know the basic terminologies so you can relate on the conversation of different crypto enthusiast. Also, this will be your foundation to understand the market and interact to other people.
Remember, you must need to learn the basic terms before jumping on more complex things. It can help you to understand the most complex things in the world of crypto. One step at a time, don’t rush things!
Sources:
Published: May 25, 2021
I was confused and searching for meaning of fud and now i completely know thank you so much!!!!