5 cryptocurrency slang jargon that every investor or new to crypto should know

in #bitcoin3 years ago (edited)

With growing attention of crypto world, crypto community created own jargon.

and over the past years the list and the words in jarjon grow bigger and bigger, i not going to explain about all of them
but I going to focus on 5 that are must to know.

Whale
example: Example: "wait till the whales pump the price"

A whale is a person who owns really a lot of cryptocurrencies and most of the time whales have a huge impact on the markets We're talking about hundreds or thousands of bitcoins and many other cryptos.
and if a whale decides to manipulate the market it can be easily done by pump and dump.

Pump and dump
Example: "someone is pumping the price of this coin"

pump and dumpers are people who often manipulate the market and creating a group of people that will create fake demand on the market by buying coins and pumping the price and then when the price on the top will dump and sell their coins, and since its fake demand there is not really support for this price and many people will lose a lot of money.

often time pump and dumpers will say something like: "let's pump this coin in 1 minute, and after one minute go go go" after reaching fake demand they will say "now dump dump dump"


Image credits to wikipedia

most of the time you can find telegram groups of pumpers and dumpers and many of whales have a huge impact on the market when they were part of this scams

Mooning

EXAMPLE "dogecoin to the moon" or "Litecoin is mooning" dogecoin was one of the first coins that were using this terms and slowly it got adopted by the majority if someone says litecoin is mooning its mean that the price going sky high of this coin.

and if someone says dogecoin to the moon it's just being optimistic about that coin and screaming that the price will go high with a hope or some info( or just doing pump and dump and they just flooding the chats to make you invest in this coin)

Bagholders

a person who wants to sell higher price, but the market moved too fast, and that he got 'held with the bag' and left with a coin he paid much more than the current market price, this often happens when people falling into pump and dump scams.

and finally the HODL
"HODL"- in one of the bitcoins forums serval years ago someone posted a post saying he will HODL his coins, the
misspelled HODL instead of HOLD was interpreted as "hold on for dear life" meaning holding your coins no matter what till the price is mooning and since then this term is a MEME in the crypto community.