if you plan to join the legion of cryptocurrency hodlers then here are some useful terms you should know:
• Sats — Short for Satoshis, a division of Bitcoin, 1 Satoshi = 0.00000001 Bitcoin. 1 Bitcoin = 100,000,000 satoshis
• Fiat — Fiat currency, your standard currencies such as USD, GBP, EURO, CNY etc.
• ATH — All Time High, the peak of a coins price.
• Bull Market — a market in which coin prices are rising, encouraging buying
• Bear Market — a market in which coin prices are falling, encouraging selling.
• Feeling Bullish — Feeling positive that an investment will grow in value
• Feeling Bearish — Feeling that an investment will lose its value
• Weak Hands — People who buy a coin then sell as soon as the price dips
• Strong Hands — Investors who hold on to coins not matter how low the price dips.
• Bloodbath — When a large number of coins lose a lot of their value.
- Moon — A swift and very high price increase.
- Shakeout — When a coin price dips so low and many worried investors sell at a loss, this can also be caused by a “whale” artificially reducing the price.
- Whale — A very large coin holder, they can influence the price of a coin through buy walls, sell walls and selling off coins.
• Buy walls — When the buy orders for a particular coin are much higher than the sell orders. Sometimes whales can use buy orders in an attempt to raise the price of a coin.
• Sell walls — When the sell orders are much higher than the buy orders. Sometimes a whale can use sell walls to suppress the price of a currency (usually so they can accumulate more for themselves). Example imagine a coin costs $4 and has 5m total supply and there is a sell order for 1m coins at $4.2 each, the price will not likely go above that price.]
• FUD — Fear, Uncertainty, Doubt. People who spread bad news about a coin to cause investors to doubt their investments and sell or to prevent other investors from buying into a coin. FUD can be spread by investors seeking to accumulate more coins.
• Pump & Dump — A scheme where groups buy into a coin cheap and spread hype causing unsuspecting investors to buy in, which then causes the price to “pump” up, then the new investors are “dumped” on by the early investors as they take their profits. After a dump the price goes down and the duped investors are known as “bag holders”.
• Bag Holder — An investor who is holding onto a possible bad investment also known as being “left holding the bag”, they could be the victim of a pump & dump scheme or they simply bought into a poor coin at its ATH then is left to hold the coin as its price drops.
• FOMO — Fear Of Missing Out, when investors frantically buy into a coin to avoid missing out on the price increases, this usually happens during a pump.
• New Blood/Fresh Meat — Another word for noobs or new investors.
• DYOR — Do Your Own Research
• Premine — A premine is where a developer allocates a certain amount of coins to a particular address before releasing the source code to the open community. Usually when this happens the developers have reserved a certain amount of coins for themselves for a particular reason.
Many cryptocurrency investors claim that they have made more money from holding onto an investment long term instead of trading and I would also advise everyone to hold and only trade if you have previous experience, trading is not for noobs.
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