The Crypto market is exciting. While you are researching, you will find some slang words that make no sense to you. So we thought that we should talk about those slang words first.
“My friend Steve used to be a big bagholder, but he FOMO’ed and bought trillions of Sats, so now he’s a big whale HODL-ing for that moon.”
Do these words make any sense to you? If they do, you already know some things about cryptocurrencies.
FOMO – FEAR OF MISSING OUT
FOMO is typical among all humans because it’s human nature. Think about those who purchased bitcoins in 2017 at the peak of almost $20000. They had to watch their entire investment go down to $10000. Those who are buying at all-time high prices are the ones that FOMOed into bitcoin back in 2017. FOMO in crypto is buying crypto, thinking it’ll explode in price and do so without any data analysis.
Those who are shill in the crypto space are the early adopters of some new cryptocurrencies. They do promote crypto for their gain and not for the value it brings to the room. These investors typically dump (sell) the market when their investment comes to a certain level. So following those promotions can be highly dangerous.
These three characters mean three words, those are Fear, Uncertainty, and Doubt. Crypto markets are highly volatile, and price swings are amazingly high. FUD in crypto is a psychological trick to spread fear among all the investors of a specific coin. That will result in a price drop in that crypto.
Hodl equals Hold, but in crypto space, it’s “Hold On to Dear Life”. This HODL word is popular on the bitcoin forums. It simply means Don’t sell and hold your coins even if the price is crashing down.
Rekt comes from the word wrecked. When someone loses a massive sum of money because of crypto is called “Rekt.”
Mooning happened in 2013 Bullrun, 2017 Bullrun and 2020 Bullrun. It means an increase in price in a short period. There are also moon boys who constantly talk about mooning, and they always get rekt in the end.
Whales are the ones that own more than 5% of any crypto. Those who own 1000 plus bitcoin are also called whales because the price of bitcoin is enormous.
Pump and Dump
In the crypto world, there are so many pump and dump situations in the last decade. A pump happens when a coin gets excellent attention from the world. When popularity shades away big dumps happen. The best dumpers in the crypto world are Whales. When they dump a coin, it shows in your crypto wallet.
Bagholders are holding onto a coin even it plummeted in price. They usually hope that the cryptocurrency will go up again in price sooner. Sometimes they are the ones that get rekt because they are so attached to their investment.
Sats – Satoshis
Satoshis are the smallest unit of bitcoin. Bitcoin is made up of 10 million satoshis. When bitcoin is mooning, every sat matter.
Common among moon boys and girls. When Lambo is asking, “When are we going to get rich?“. Be level-headed, and don’t be a moon guy.
Flipping is that some coins are overtaking another coin in the crypto market share. If one day Ethereum becomes no one crypto by market share, then it flipped bitcoin.
No coiners are those who are not owning any bitcoins. Most no coiners called bitcoin a scam when it’s low in price, and now they are staying away from it because of its high cost.
We hope that Learning these words will help you to do your research on cryptocurrency. What do you think about these words? Do you know more? Comment them down below in the comment area.
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