One of the most trending markets in recent years is the cryptocurrency. This is a world that is considered by most traders to be very addictive because it is also a fascinating thing to invest in a certain coin or token and expect its price to rise. However, it is very important for you to know some of the cryptocurrency words that are very widely used in the cryptosphere but are not commonly used in non-related conversations if you are a new person who is eager to learn about the cryptocurrency industry or is very interested in trading.
The reason you need to understand all these words is because otherwise, a lot of stuff would just go over your head that the other person says in the cryptocurrency sector. Here are some of the cryptocurrency words that are quite important:
FOMO
FOMO is a very frequently used abbreviation that is not only one of the words of the blockchain, but often used in the general world by many individuals. Fear Of Losing Out" is the complete form of this." This 'fear of losing out' actually influences the market because investors feel that a decent chance will be a loss on their sides if missed, which is why they purchase the specific coin that the traders buy maximum. The genuinely knowledgeable investors are not influenced by this FOMO because they can always stick to their plan. That is the correct way to trade and sometimes not to get FOMO.
HODL
HODL is one of the silences in the cryptocurrency world that when he/she might have sold it, is used by anyone to keep a particular cryptocurrency. "One posted on the Bitcoin forum back in December 2013 with a typo saying "I AM HODLING". That was when the term emerged and is still used in the marketplace. Many traders adhere to the initial strategy, which is why they keep a certain token and even if its prices drop or even if the other traders do not see any more price potential for rice. That is when their tokens are owned by the traders.
FUD
This is the abbreviation for fear, uncertainty and doubt. There are many people around the world who assume that, without understanding the true potential of the business, Bitcoin and the entire world of cryptocurrencies is a bubble. This FUD is also spread by a lot of rumors that fraud and so on is a specific cryptocurrency. The price of a certain token often crashes if any traders start taking the hoaxes seriously. Before investing in any cryptocurrency, a great deal of analysis should be performed (be it Bitcoin or any other). Fear, confusion and doubt must first be questioned.
SAFU
SAFU is the word used in the cryptosphere to mean 'safe'. There was a Bizonnaci YouTube channel that used the term for the first time and it has been widely used ever since. This became a Crypto meme after Youtuber created this funny video about the tweet of the Binance CEO saying "funds are safe." It did not take long for the thing to become a joke and become very famous in the entire cryptocurrency community. It has actually now been a Crypto slang, but this is nevertheless one of the most used words of all time in cryptocurrencies.
Cryptojacking
Cryptojacking is basically a criminal crime that is performed to get access to the computers of the workers and mine cryptocurrencies with them by using a lot of ransomware-like techniques and poisoned websites. This is an unauthorized use of a device by someone else, which is precisely why it is considered a felony. The hackers cause the victim to somehow click on a malicious connection that is sent to them as an email. This connection loads a lot of code for cryptomining, which is what now undermines cryptocurrencies. By infecting a website or online ad, another way hackers pursue is. After that, the JavaScript code auto-executes.
ICO
Initial Coin Offering (ICO) is one of those terms for cryptocurrencies that a trader who is new to the market should know. It is a system for funding in which new ventures sell their remaining crypto tokens that are traded for ether or Bitcoin. It is actually a recent phenomenon in the blockchain culture, but it has become a very dominant discussion subject. For a better understanding, the 'initial public offering' reference may help. Investors initially buy shares of a business when they are sold to the public. That is exactly what happens with the offering of the initial coin (just that shares are not being sold but coins are).
Lambo
The short form of success in the crypto market has become Lambo. In the market, there are many cryptocurrency millionaires who are still looking up to them. To describe a lot of things, there are several cryptocurrency words, but Lambo has become one of the outward icons of bro culture. Many traders use the phrase "When Lambo?" to query each other. which essentially means when the other trader in the market is going to be extremely successful. As the crypto millionaires began investing their Bitcoins on Lamborghinis, the cause of this occurred. If a list of cool cryptocurrency words is ever made, Lambo will be at the top of the list,
SATS
For Satoshi, this is the short form, which is 100 millionth of a bitcoin. A hundred millionth of itself is the last unit of measure for every Bitcoin, and that unit is called Satoshi. Actually, Satoshi is the name given to the person or the community that created Bitcoins. The Bitcoin price is so high that a hundred millionth of a bitcoin holds a certain value. Mathematically, 1 Bitcoin is 100 million Satoshi, actually. This is the best sum that can be registered in the blockchain, and approximately 9419 satoshi were 1 US cent in March 2018. These small units are very handy, and SATS is a widely used term, undoubtedly.
MOON
Moon is one of the words of the cryptocurrency that is very symbolic in fact. If the price of a certain cryptocurrency token goes really high and rises off the charts, that's exactly why the traders use the term 'Moon'. It is an exclamation of happiness and somewhere in the line of "the prices go to the moon" it is framed. It literally means that it has reached a peak when the price of the same coin is referred to as "mooning". These concepts of cryptocurrency make it a much more exciting place to exchange and live in the cryptosphere.
CRYPTO BEAR
Basically, Crypto bear refers to that portion of the market which is characterized only by negativity and caution. All traders are expected to expect lower highs and lower lows in a bear market, which is why it is very important to respond correctly to the crypto-bear market. Any active trader finds this to be one of the most significant words for cryptocurrencies since it not only describes the market, but also offers you a basic strategy to behave accordingly. Undoubtedly, in order to get the most benefit, it is very important to match the trading operation with the type of demand.
WHALE
The traders who possess a large amount of a certain cryptocurrency are referred to as whales. Indeed, they are the whales of the sea, where several other smaller fishes are also present. These whales have so much of a certain coin that not just a splash, but a wave is created on the market as they buy or sell, which has a great effect on the entire cryptocurrency market. They have the strength, through the digital resources they have in their pockets, to change the market. Since every new trader should know about whales and their ability to drive prices in the desired direction, this is one of the most relevant cryptocurrency words.
CRYPTO BULL RUN
One of the three most important cryptocurrency terms, which is basically the opposite of a Bearish market, is Crypto Bull Run. This is characterized by pure optimism, which means that any single trader should have a positive outlook and they are referred to as "bulls" once they have that. The trajectory of market prices is evaluated, and these bulls remain very positive about the price graph's movement. Each single trader should expect higher highs and higher lows when it comes to prices in a bull market, where more and more buying is often encouraged to make more profit.
GOING LONG
Going long with a cryptocurrency implies showing tremendous interest in buying a form of cryptocurrency. It is what it loosely is to purchase an asset and hope for the price to go up in the future. The profit opportunity in the long run is completely infinite and in a volatile cryptocurrency market, no one can strategize too far and restrict the profit by putting a 'maximum profit' label on it. This is favored by many traders who do not have enough time to continue to fully search the market and there is absolutely nothing wrong with going long. In reality, going long opens a lot of doors for profit-making opportunities.
GOING SHORT
Going short is another phenomenon for day traders and a very significant one. Many people are still skeptical about cryptocurrency tokens and Bitcoins, which is the reason why this is arguably the most relevant of all cryptocurrency words. So many merchants do not have confidence in their investment, which is why they live and are very content with small profits. If the traders/analysts know that in the near future, the prices of the specific cryptocurrency token will drop, they are more likely to sell it or suggest selling it. A lot of cryptocurrency words demand that beginners understand experience and this is one of them.
DYOR
This is the short form of "Do Your Own Research," which is a very useful tip for all cryptocurrency industry newcomers. This is because a lot of things should be done before making an investment, like checking industry patterns and drawing historical comparisons. A trader is very likely to meet a bunch of manipulative individuals in the cryptosphere who will advise a lot of things that, in general, are not even accurate or right. That's why DYOR is one of the most reliable terms for cryptocurrencies and is used very widely by so many market traders.
There are more cryptocurrency terms out there that every beginners should know.