To help you get started on your Cryptocurrency trading journey we gathered a few words that every aspiring trader should know of:
Altcoin: Any cryptocurrency other than bitcoin.
Bagholder: A person who holds a particular crypto which decreases in value until it is worthless.
Bear/Bearish: Negative sentiment or downward price movement.
Bear Trap: A literal trap where a general upward price trend reverses downwards momentarily and will continue its upwards motion.
BTD: Buy The Dip. An indication to buy a coin when it has substantially decreased in price.
Bull/Bullish: Positive sentiment or upward price movement.
Bull Trap: A literal trap where a general decreasing price movement reverses upwards momentarily and will continue its downwards motion.
Dead Cat Bounce: A temporary recovery in prices after a huge decrease.
Dump/Dumping: Selling away your coins/Downward price movements due to increase selling pressure by many.
DYOR: Do your own research.
ELI5: Explain to me Like I’m 5. An explanation (usually in Reddit) that is simplified that even a 5-year-old can understand.
Faucet: Website that rewards you with small amounts of cryptos for the completion of a specific task.
FA: Fundamental Analysis.
FOMO: Fear Of Missing Out. This is a rookie mistake where a coin is skyrocketing and you get the feeling it’s gonna pump more, so you buy at the peak.
Fork: Splitting of the Blockchain due to competing philosophies or protocol upgrade.
FUD: Fear, Uncertainty & Doubt. Describes time of panic where negative sentiments are overexaggerated.
HODL: Act of holding on to your coins even in dire market circumstances, resisting the urge to sell.
JOMO: Joy Of Missing Out. Opposite of FOMO.
Long: A positive or favourable view on the coin or the market in general, usually with an underlying investment on the coin in mind.
MCAP: Market capitalization of the coin, which is an indicator of its market size. It’s derived from multiplying its market price to the total available supply of coins currently in the market.
Moon: Expected upward movement (burst) of price, towards the moon.
Pump: Upward price movement.
Pump & Dump: Price manipulation by whales or collectives.
Shitcoin: A coin with no potential value or use. Also, includes useless currencies such as fiat money.
Short: Selling coins on margin, expecting the price to plunge.
TA: Technical Analysis, or the analysis of prices based on historical price movements and fancy indicators.
Rekt: A slang that refers to “wrecked”.
Reverse Indicator: Someone who is always wrong predicting price movements.
RSI: Relative Strength Index, a popular trading indicator used in technical analysis.
Vapourware: A project that is never actually manufactured or implemented, synonymous with shitcoin.
Whale: Someone who owns a huge number of coins that can influence prices of coins.
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