Crypto Slang Words 101 #FOMO let's learn

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Avatar for salma24
4 years ago

When concurrency was known last 2017 if I wasn't mistaken this is the year I get to know Bitcoin and other coins. Correct me if I am wrong. Late 2017 when BTC almost hit $ 20,000 each. That day was so amazing you'll see everyday btc hit a new high. I was like why I didn't hold any BTC?. They market are all green. I didn't go to twitter back then. What's why I have this question in mind what are those words?

That they call bull run, Bearish or Bear Market, the Word Fomo, Hodl and more. Well the word to the moon I get what it's mean back then just a common sense.

Maybe until now some of us didn't know this slang words or not familiar with it. So I have it here. Hopeful it help you little. Kindly correct me if I write it wrong I am No professional at all. Still an amateurs in Trading. It's all about Crypto slangs.

When Moon or To The Moon

It’s a reference to the coin or its potential for value increases over time. “To the moon” means skyrocketing digital asset prices. This is also where “Lambos” comes in. “Moon Lambos” are Lamborghinis purchased with the winnings from trading a coin whose value has “gone to the moon.”.

Moon could also be used to deride the all too eager, undereducated beginner investors who purchase coins with the expectation of large profits. "When moon" is a subtle approach on crypto forums to mock such investors

Bag Holder ( this is I called whales looks like I was wrong )

You do not want to be a bag holder in crypto trading slang. A bag holder is an investor who has an asset that is decreasing in value and could end up worthless.

HODL ( to me holding a coin till to the Moon )

This term is, as you have probably guessed, a misspelled version of the word “hold.” So, why does the whole crypto-verse use it in its misspelled state? Well, it’s said that one GameKyuubi, a Bitcoin forum user, after binge-drinking, drunkenly announced that he was “hodling” onto his BTC in late 2013, when the coin's value was crashing

Whale

In cryptocurrency terms, a bag holder can be a “whale.” This is an individual or group who holds a ton of a given digital asset. It’s easy to find them. Remember, public chains are transparent, and given the pseudonymous nature of Bitcoin, for example, it’s easy to pick them out. Satoshi Nakamoto, the anonymous founder of Bitcoin, is a whale of Bitcoin, Ripple Inc is another whale: They own the majority of XRP. Vitalik Buterin, the co-founder of Ethereum, is an ETH whale. Generally, most co-founders and founders of blockchain projects are whales, partly because of the initial token allocation during the crowd-funding stage.

Pump and Dump

Orchestrating a false demand for a tradable asset is illegal in traditional setups. However, in cryptocurrencies, which struggle with regulation, “pumping” a coin or token is now an open secret. Planned in private chat rooms such as Slack, a group may decide to “pump” the price of a token/coin by buying it en masse and “dumping” them by selling at the same time.

Rekt ( unforgettable 2018 first quarter a massive lost 😅 )

To get rekted is to be destroyed or ruined. A common catch phrase amongst gamers, the term permeated into the crypto scene and popularized in 2018. Then, many bag holders were rekted in that they posted huge losses following the drastic fall of cryptocurrency prices in what was dubbed the crypto winter. If a margin trader is rekted, then his or her position has been liquidated by the exchange.

Sats

Real cryptocurrency traders don’t usually value digital assets using USD or any other fiat term. They do so in Sats, which is the smallest fraction of BTC: 0.00000001. This high level of divisibility is what sets BTC and generally most cryptocurrencies apart from fiat.

Altcoin or Alt

Any coin that is not Bitcoin is an alternative coin. That means ETH, XRP, Bitcoin Cash, Bitcoin Private, and more than 2,000 more coins are altcoins. These altcoins can also be tokens.

Shit Coin or dead coins

A coin value near zero and rarely used. There is a lot of them now in the market.

Cryptocurrency Slang

Fiat

Fiat is a term for the currency issued by governments. Fiat money is currency declared to be legal tender by a government and is, consequently, state-issued.  The word came into use in the English language around 1630. In that age, fiat meant “authoritative sanction.” Literally, it’s Latin for “let it be don".

FUD

In cryptocurrency trading, FUD can lead to price drops, not due to chart signals of the coin's fundamentals but due to bad news on social media. FUD is therefore the opposite of FOMO, often leading to inexplicable sell-off trades. A person who intentionally spreads FUD is a FUDster.

Flippening

When the market cap of a coin or token surpasses another and is therefore ranked higher, a flippening has occurred. Last year, XRP temporarily flipped ETH, becoming second. Soon, ETH changed the tables, flippening XRP. Flippening in altcoins happens frequently.

FOMO ( Fear of Missing Out )

An excellent example of FOMO is the 2017 Bitcoin rush that lifted the coin from lows of $900 to highs of $20,000 within a year. FOMO is an acronym for “fear of missing out” and is slang for irrational behavior fueled by the worry of missing a fantastic opportunity.

The 2017 Bitcoin Bull Run was labeled as FOMO-driven because the excitement surrounding the new asset fueled it. In the end, the overbuying led to a dramatic fall in value to the $3,200 mark in 2018. The digital currency and its investors have matured since then and are now experiencing a new boom.

JOMO

This term is not widely used, but it’s the exact opposite of FOMO. The “joy of missing out” was a term coined after the 2018 drop in the value of digital assets. Those who didn’t buy tokens/coins in early 2018 had a JOMO moment, entering at better prices in late 2018.

Shilling

The act of deliberately spreading false news to “pump” the price of a coin/token when one has a vested interest is called “shilling.” Tron co-founder Justin Sun is a notorious TRX shill, and so is the public support for BNB from Changpeng Zhao of Binance.

Basic Trading Terminology For Beginners

Ask price

When you sell crypto assets, the ask price refers to the minimum amount you are willing to sell the assets for.

Bid Price

The bid price of an asset refers to the maximum amount a trader is willing to pay for it. Supply and demand play a critical role in trading. You can think of a coin's bid price as its demand side of the supply vs. demand equation.

Bid-Ask Spread

The difference between the ask and bid prices for crypto assets makes up the bid-ask spread. That spread is the profit that market makers earn by trading assets on an exchange on the investor's behalf.

Market Volatility

The cryptocurrency market is known for its volatility. This feature is both its strength and weakness, too, depending on the type of trader you are. A short-term day trader who lives to make a quick buck off fast-changing prices will enjoy the volatility of the market. They can make large profits when there are quick movements in crypto asset prices.

This very same phenomenon can simultaneously bring about losses when the prices take a considerable nosedive in a very short time. Long-term investors, however, are hardly affected by this volatility. They are in for their long-term goals and, in cryptocurrency trading terms, are known as HODLers. This group sees Bitcoin, for instance, as a store of value rather than a trading instrument. They are less interested in swing and day trading, which relies on volatility for profit.

Sell Wall

Sell walls happen when a large group of sell orders is placed on an exchange's order book all at once. Sell wall orders often have what looks like undervalued prices. Many crypto pundits say that it’s a sign of wealthy individuals or whales manipulating the crypto market. A cell wall is built as an attempt to drive the value of assets down so that the affluent investors can take large positions on the assets.

Buy Wall

This is the opposite of a cell wall. It is a large number of buy orders placed on exchange order books all at the same time. The buy wall can push up the price of an asset and also keep it from dropping.

Buy the Dips

Great advice from Warren Buffet: "Be fearful when others are greedy and greedy when others are fearful" leads to “buy the dips.” This means that you should purchase a digital currency when its value is low with the hopes that it will rise later and give you a good return. This works better for digital currencies that have genuine use cases.

Bull/bear trends

A bull market is caused by demand causing prices to trend up. Thus, a bull trend is an upward trend in the value of an asset. Depending on the underlying demand and/or participants, the pattern can grow over months or years and is often associated with a positively sloped moving average (MA). A bear trend, which is also part of Forex trading jargon, refers to a long-term reduction in the value of an asset. It could last for months on end and is signified by a negatively sloped MA.

Bull Trap

This is a cryptocurrency trading term that refers to a false signal pointing to a rise in a coin’s value when, in fact, the prices are about to dip. The bull trap, therefore, ensnares bullish traders.

Bear Trap

This is the opposite of a bull trap. A bear trap is a false signal that a coin's value is about to dip when, in reality, it is about to rise. Bearish traders then short the coin or sell off and lose on profit.

Main Source: Google

Source: Exchangers

Disclaimers: this is not an EXC that's why you don't have to say not original because it's obvious. As I read this Injust though of sharing this here because we have some readers that are new into trading too. I just give some of my though and I don't Own the whole article it belong to the source. Thank you.

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4 years ago

Comments

Thank you for this cryptocurrency slang you shared. It really helps especially to the users who don't have knowledge about crypto.

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4 years ago

We learn at the same time by reading this article too.

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4 years ago

When I saw the title of this article, I really surprised. Crypto Slang Words!!! Really!!! But then I read the full article. Truly it's very good article. Keep writing.

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4 years ago

Thank you dear. Compliment makes me happy 😘

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4 years ago

You deserve it dear.☺

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4 years ago

Nice article Salma 👍

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4 years ago

Thank you sir and thank you for sponsoring me. I really Appreciate it 😊❤️

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4 years ago

Wow. All of this will help me communicate with other crypto enthusiast. Thank you for this.

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4 years ago

Your welcome. Glad this will help you too.

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4 years ago

Actually I'm new in crypto world, and when I'm about to read your Articles. It gives me more information about crypto thanks for sharing this articles.👍👍👍

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4 years ago

Your welcome I am Glad that it helps you dear.

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4 years ago

Napaka habang article pero worth to read lalo na sa mga baguhan sa crypro katulad ko. Sana ay matutu din ako. Minsan kasi di ako maka relate sa mga publish about crypto dhil ang kaalamn ko ay di sapat upang maki pag palitan ng idiolohiya sakanila.

Nakaka hiyang mapahiya po. Salamat sa pag bahagi ng iyong kaalaman po.

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4 years ago

Thank you dear. 😉😘😘

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4 years ago

Saved this one, it's really great knowing what Cryptocurrency is and it's terminologies and how it happens.. thank you.

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4 years ago

Your welcome I am glad that this article help you in some way. 😍

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4 years ago

Yeah as new to Cryptocurrency we must learn from here. And the terminologies you've given added my learnings.

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4 years ago