Hello guys i'm back i decided to write a little article about the terminology and the acronyms that we are using daily in the crypto currency market.
Behold ! The 10 more used acronyms and words in the crypto market :
1 ) HODL (Hold On Dear Life )
Maybe the most common of all acronyms meaning actually HOLD.
It means that no matter of being in the middle of a loss in your crypto value keep your coins until they worth much
more. Just image people that bought Bitcoin for less than 1 cents back in 2010 =)
2 ) FOMO ( Fear Of Missing Out )
Yes yes ...we all had that . We are all afraiid of missing the next big coin that will 100X its value and will ' Make us rich '.
3 ) Altcoin ( Alternative Coin )
That's essentially any coin that is NOT the King himself mighty Bitcoin < 3
4 ) ICO ( Initial Coin Offering )
Imagine that something like IPO of companies in the stock market.
A company that uses blockchain technology is distributing their token that can be used in order to use their services
/ product.
5 ) MOON ( Moon )
The meaning is that the specific coin that most of the times was bought for a few cents will at least 10x its value and
multiply your earnings after selling it.
6 ) Weak Hands
People that cannot HOLD and whenever the market is correcting they are afraid of losing all their money and sell
their coins as fast as they can in order to minimize loss.
7 ) Market Cap
How much in fiat money worths if you could buy the whole supply of it . Most of the times expressed in USD.
8 ) Whale
As a whale opens its mouth and devours large amounts of skrill ( Shrimp ) Whales in the crypto market are buying
or selling large amounts of crypto that essentially move the price up or down.
9 ) Pump And Dump
When you see a huge rise in price in a short period of time and then the price crashing down ... that's a pump and dump. Most of the times groups of people are buying large quantities of an altcoin so its value will significantly rise and other people in Fear Of Missing Out ( FOMO ) get into buying the coin as well. THen the Pump and Dump group is selling the coin fast so they earn a lot of money in a short period of time . I've seen the most pump and dump in the exchange website Cryptopia ( it has a lot of altcoins ) and Coinsmarkets
10 ) FUD ( Fear Uncertainity Doubt )
More or less its propaganda spread by people in order to crash the market for their own personal reasons...
That's all for today
Cryptagoras
PS : One more term ... fiat ! Essentially the real world money like USD , Euro , CAD , GBP etc...
Nice article , thanks
Thank you sir