CRYPTO LINGO - Know the terms used in the crypto space.

tinashe(58)

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#cryptocurrency

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One day I decided I would become a cryptocurrency day trader. In that quest, I joined a trading chat room on Telegram.

There, I was surprised to see that I was not able to understand any of their conversations. The people inside this chat were using jargons and terminologies that I hadn’t ever heard anywhere else in my life.

I looked in my Oxford dictionary and couldn’t find any of these words! Then I asked my good friend Google…

From there, I learned about all these terms, and I was finally able to understand the conversations in the Telegram group.

But if you are also new to Bitcoin and the cryptocurrency space, you may not know what any of these things mean.

Am I right?

Here are some of the terms explained.

🔵#ALTCOIN = Any crypto currency other than bitcoin.
🔵#ASHDRAKED = A situation where you lost all your money.
🔵#BAGHOLDER = A person who buys and hold coins in large quantity hoping to make good profits in the future.
🔵#BEAR/BEARISH = Negative price movement
🔵#BTFD = Buy The Fucking Dip (an indication to buy a coin when it has dumped so hard)
🔵#BULL/#BULLISH = Positive price movement
🔵#DILDO = Long green or red candles
🔵#DUMP = To Sell off a coin
🔵#DUMPING = Downward price movement
🔵#DYOR = Do Your Own Research
🔵#FA = Fundamental Analysis
🔵#FOMO = Fear Of Missing Out (A coin is pumping and you get the feeling it's gonna pump more, so you buy high)
🔵#FUD = Fear Uncertainty & Doubt
🔵#HODL = Hold/Hold a position
🔵#JOMO = Joy Of Missing Out
🔵#LONG = Margin bull position
🔵#MCAP = Market Capitalization
🔵#MOON = Continuous upward movement of price
🔵#OTC = Over The Counter
🔵#PUMP = Upward price movement
🔵#SAJ CANDLE = Huge green candle
🔵#SHITCOIN = A coin with no potential value or use
🔵#SHORT = Margin bear position
🔵#SWING = Zig zag price movement (Upwards and downwards)
🔵#TA = Technical Analysis
🔵#REKT = When you have a bad loss
🔵#REVERSE INDICATOR = Someone who is always wrong predicting price movements.
🔵#RSI = Relative Strength Index
🔵#WHALE = Very Wealthy trader/Market mover