Since the launch of bitcoin in 2009, cryptocurrencies have grown both in numbers and in popularity. In addition, cryptocurrency terminologies have been cropping up and they are often used in crypto articles and Reddit bitcoin forums. In this article, you will learn the meaning of 10 cryptocurrency terminologies so that you are not left out.
Fear, Uncertainty, and Doubt.
For instance, anti-bitcoiners were spreading a lot of FUD when the bitcoin price dipped to below $7,000 earlier this month.
Fear of Missing Out.
Many people are reacting to crypto from the fear of missing out rather than from interest and the eagerness to understand the technology.
The expectation that the price will increase makes someone bullish. Bullish people are positive that the bitcoin price will rise past the $20,000 mark in 2018.
This term refers to the price greatly increasing. For example, the bitcoin price was mooning at the end of 2017. Moreover, Bullish bitcoiners are expecting the bitcoin price to go to the moon.
Apparently, someone spelled hold wrong on a forum and since then, the term HODL is being used by everywhere. It simply means holding your coins despite the fluctuating prices. You might hear a bullish person say, “I am HODLing to the moon.”
The expectation that the price will dip is termed as being bearish. One can hardly expect to find the bearish population HODLing.
A whale is someone that owns a lot of bitcoins. Whales are the largest players in the bitcoin market such as Bitcoin Investment Funds and Hedge funds.
All Time High
ATH is the highest price a coin has ever reached. Bitcoin’s ATH was $20,000.
- PUMP and DUMP
Pump and dump simply means buy and sell. These are schemes carried out on social media such as Slack and Telegram.
“Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value. Then, everyone “dumps” the coin and sells,” Peter Saddington, an early bitcoin investor that runs The Bitcoin Pub stated.
A bagholder is essentially someone who is left “holding the bag” because they wanted to sell when the price was high but the market moved too fast. That means that the bagholder is then left with a crypto they do not want at a price they cannot sell.