When i first read about Crytocurrency, i came upon a particular word "HODL" in this article. Initially, i thought it could be a typo error by the author. Hence i did not pay too much attention as i believed that it meant "HOLD" as in to hold on to the investment. As i read further, more and more alien words came up, such as "FOMO", "FUD". I was like, hold on, hold on. Am i reading an encrypted post? Hence i decided to do a little investigation, apparently alot of chatgroups are also using some of these words, and trust me, when it comes to reading these kind of comments with alien words. The task to fully understand and participate gets a little bit more harder. So if you are a newbie, here are a few alien words which i gathered to help you in your journey to learn about cryptocurrency. If there are other alien words that i missed out, feel free to comment and enlighten us.
HERE WE GO :
HODL
It's actually a misspelling of "HOLD" but got stuck around (Don't ask me, i don't know why. The internet is a funny place) When you see this word, it basically meant that a Crypto trader who invested in a coin, sees himself holding it and not selling it in the forseeable future (Hopefully for higher gains). Hence, these Crypto traders are usually described as "Hodler of the Coin"
FOMO
It's actually "Fear Of Missing Out". I think this one explains itself very well. When you are driven by emotions, you tend to buy without thinking for fear of missing the boat. Usually when u see a hugh green candlestick forming in a very short span of time, you will start seeing people shouting "FOMO! FOMO!"
FUD
I thought it was a vulgar language initially, but it actually meant "Fear, Uncertainty and Doubt". It's like describing someone who is trying to spread "Fear, Uncertainty and Doubt". So instead of using long sentences, you just say "This GUY is spreading FUD again"
PUMP and DUMP
Actually this one is quite easy to understand. It's can be described as pumping the price to a high and then sell it at a high gain. Usually associated with spike in the charts.
Whale
Identifies a trader who is a big player in the Crypto world. People with money, money, money!
ATH
I always can't remember this one, but it actually just meant "ALL TIME HIGH". Eg. "This XX coin has reached an ATH!"
Bag Holder
I thought it was holding someone's balls, but instead of smaller ones, you get them in a bag. I must be crazy. But seriously it meant someone who has bought in at a high price but missed his opportunity to sell. Ended up leaving him with worthless coins. I hope no one gets into this situation
Shill
I thought it was "CHILL", but boy i was so wrong! It actually meant the act of unsolicted endorsing of a coin in public. Crypto traders belives that SHILLs actually have bought these coins and hence are hoping to ignite the public's interest as well, so that more people will buy the coins. So tread this carefully or you might be termed a SHILL
BTFD
"Buy the Fxxking Dip!". I actually don't see this much but it usually happens when theres a substantial dip in price due to panic selling and experience traders will actually deem this as a good opportunity to buy
MOON
When you see someone shouting "MOON! MOON!" in a chat, it actually meant that a coin is extremely bullish. So if i were you, i will starting paying attention to this coin.
Actually the above alien words are just tip of the iceberg and i believe that there are even more. If there are more alien words. Feel free to share in this post. Thank you
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