As a newbie there are some crypto terms you will be seeing and be wondering what they are. I was once there. Even if you are not a newbie, you just can’t know it all. So you can read and learn something new.
image from Cryptofunny
Paper Hands
As the name paper hands implies, I regard it as easy to flip. These are people that are very quick to sell their crypto at the very first sign of market price decrease. They get nervous and scared easily, so they sell at very first sign of what they think is trouble. They can’t handle dips. These people FOMO easily as well.
FOMO
This stands for Fear Of Missing Out, and one of the deadliest trait to exhibit in investments. Sometimes it can pay off but the reverse is the case most times. During FOMO you act based on emotions not thinking. You take actions because you are overwhelmed with the feeling of not missing out. When you don’t FOMO and the coin turns out to be crappy, you JOMO.
JOMO
JOMO is the opposite of FOMO it’s the Joy Of Missing Out. When people are jumping into a particular coin project but you didn’t jump along with them, when the price dips or crash, you will JOMO. You will feel like you dodge a bullet there. But sometimes you might regret it. Because sometimes you might not jump in, but others who jumped in made a 50% in 1 day. Then you start regretting.
FUD
You can’t mention Paper Hands without involving FUD. FUD stands for Fear Uncertainty and Doubt. Paper Hands get influenced by FUD a lot. Because they get influenced by negative and dubious or false info about their investments. For instance, people that sell that sell their crypto due to Elon Musk’s Tweets.
Diamond Hands
These people are the opposite of Paper Hands. These are the Die Hard holders. These people hold their investments no matter what happens because the trust the project. They hold regardless of the losses , risks, headwinds to get to an end goal. For long term investment you need to develop a solid diamond hand.
Whale
I personally see these people as the lion of the jungle. Just as the name implies whale, they are the big fishes of the water. When they sneeze we all catch cold. They are large investors whose actions make a big change and wave in the market of a particular coin. We all want to be a whale someday.