Introduction
In this day and age, crypto-currencies have become a very lucrative source of investment and monetary exchange. There is a certain vocabulary that you need to know, especially if you are a new investor.
Like in the normal world, there is some lingo widely accepted in the crypto ecosystem.
If you are a Reddit user, you have probably seen the tons of terms used by Reddit users to refer to Bitcoins and Ethereum.
Cryptoterms You Need to Know In 2021
The rise of Bitcoins has led the investors to form an organized crypto ecosystem, and they only speak in these terms if they have to convey or send a message to fellow crypto users.
1. Pump and Dump
The term pump and dump mean buying and selling. This term is mainly used when an investor buys (pump) a ton of bitcoins when the price is low and sells (dump) when the price is excessively high. Users who follow this regularly are said to be ‘pumping and dumping.’
2. Bagholder
This term is a bit dramatic. Bagholder usually refers to the people who hold on to bitcoins after a severe market crash. This term is used to refer to investors who bought the bitcoins at an excessively high rate and missed the opportunity to sell them at the right time.
In simple words, the investors are left with bitcoins that are worthless, but they are sure that the prices will rise.
3. Whales
Whales are what you call ‘bulls’ in the stock market. They are very wealthy and can move the market in no time; credit goes to their huge capitals. Whales hold ridiculous amounts of bitcoins. Cryptocurrency prices can be altered due to whales.
4. HODL
HODL is undoubtedly the most famous crypto term. There is a funny context behind the invention of HODL. This crypto term originated when a drunk person was typing in the subreddit of Bitcoin and mistakenly spelled HODL instead of HOLD; since then, the term has gone viral.
Investors often try to hold onto their investment when the market is volatile.
5. It’s Price Will Rise to The Moon
You may have got the idea of how this phrase is impactful here. This phrase is used by traders when the price of Bitcoins skyrockets to the moon. Many would say the prices of bitcoins ‘mooned’ the last year, which means the prices went up 10-15 times the prices they bought them for.
6. Altcoins
All other cryptocurrencies other than Bitcoins are called altcoins. ALT is the first three letters of the word alternative. Another term used to refer to cryptos that have no potential is Shitcoin. These coins do not have the potential for a price hike in the future, but the users keep holding on to them.
7. ATH
ATH stands for All-Time High. The best price of a particular coin is referred to here. For instance, Bitcoins hit their all-time high in December 2017.
8. Shilling/Pumping
Shilling means the act of buying a particular coin and bragging about it to the public so that others invest in that coin, too; this is basically an attempt to pump its price.
9. Bullish and Bearish
Bullish means the price will rise in the future of this Cryptocurrency. It is done by amateur analysts; mostly, they don’t work. It is the cpomagazine.com of working in the crypto ecosystem.
On the other hand, bearish is just the opposite of bullish; it is the prediction that soon the prices are going to crash.
10. FUD
Last but not least comes FUD, which is the abbreviation for Fear, Uncertainty, and Doubt. FUD is nothing but fake news and gossip spread by people in the crypto ecosystem who want the price of a certain coin to drop.
For instance, you can say, “ABC is spreading FUD” a person spreading FUD is called FUDster.
Conclusion
These were the top Ten Crypto Terms You Need To Be Aware Of In 2021. These terms are used by traders on a regular basis. Learning these terms as soon as possible helps you progress in the crypto ecosystem.
