Slang is found in every facet of life. Crypto markets are no exception.
Here are a few slang terms used in the world of crypto:
HODL The term ‘HODL’ refers to holding a cryptocurrency through volatility. The term came about after a user at a Bitcoin talk forum in 2013 made a typo in the word hold, writing the word HODL in panic. Although it’s now commonly used as an acronym for "Hold On for Dear Life", that’s not the origin of its meaning. FUD FUD is an acronym that stands for “Fear, Uncertainty, and Doubt”. This is a tactic used by influencers to spread negativity about a cryptocurrency and its future, in order to spread doubt, fear, and uncertainty in the minds of crypto investors, which provides an opportunity for prices to fall to favorable levels for them to buy.
To the Moon This term is used to describe a super bullish move of an asset breaking its all-time high by more than 300%.
Whale Crypto whales are entities who hold a large number of coins of a particular cryptocurrency. There is no concrete number. However, a whale could have a positive or negative effect on an asset's price if they sold or bought. If you as an individual sold, the markets aren’t going to drop significantly, unless you’re holding billions of dollars' worth. Imagine someone selling 1 million Bitcoin. Ouch-- that’s a massive order of over $40.8 billion at the time of this writing!
Pump and Dump ‘Pump and dump’ is a tactic used by big investors to take money from innocent investors by encouraging them to buy a specific cryptocurrency, and then manipulating the price. Shilling Shilling means promoting any cryptocurrency through implicit advertising. Shilling attempts to spread buzz about a coin by personally endorsing the product in public forums with the pretense of unpaid promotion, when in fact he/she is being paid for their services. Watch out for any YouTube influencers in this regard.
Knowledge is power! Happy coining and may the horse be with you!
Written by Eric White