Must Know Cryptocurrency Terms: From ‘HODL’ to ‘JOMO’

dr.Gachet

dr.Gachet

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If you are a little interested in crypto currency, you probably met the strange term "HODL" in the thematic channels and Telegram groups. It looks like someone wrote the word "hold" wrong. HODL is an established crypto term. The fact is that the popularity of digital currencies has caused the emergence particular slang words. And without knowing it, it is difficult to fit into the crypto community and understand what they are talking about. Today we will talk about the most popular terms in the crypto currency world.
What is “HODL”?

For the first time, the term HODL appeared in one of the BitcoinTalk posts in 2013. Its author was a member named GameKyuubi, who created the thread “I AM HODLING”. Apparently, the author was drunk and wanted to emphasize the fact that he was holding his bitcoins and does not intend to sell them, despite the serious drop in prices that had just happened.


Since then, writing this word with a mistake has become especially popular among crypto community. When someone claims that "he is hodling" or proposes "to hodl", it means that he believes in his crypto currency and hopes to earn from it one day, if not today.

Thus, originally HODL was a simple typo. Subsequently, it turned into a small funny backronym:

“HODL” – “Hold on for dear life”

If you are newcomer to the crypto community, you’ve probably seen some other slang words that you don’t know about. Here’s a quick reference dictionary for some common crypto-terms.

Popular Crypto Terms

FOMO

Fear of missing out. With regard to the cryptocurrency space (and finance in general) FOMO means obsessive fear of missing a profitable investment. The Wiki definition — «A pervasive apprehension that others might be having rewarding experiences from which one is absent.»

ATH

All time high. It means that the price of any crypto currency or token has broken all previous records and is at the highest price it has ever achieved.

BEAR

This term is borrowed from Wall Street and refers to a trader / investor who expects a further decline of the crypto currency / market and wants to make money from that fall.
WHALE

This term came into the cryptocurrency world from gambling where a whale is a player who wagers massive amounts of money. It means a trader with a fat account, usually one who is bullish (one who thinks the market will rise) on the price of any specific cryptocurrency. These people are also referred to as bullish whales.

BEARWHALE

This means a trader with huge financial resources (fat account), which is bearish on the price of certain crypto currency and expects its drop.

BAGHODLER

An investor or a trader who has been holding for a long time some cryptocurrency and now must accept the consequences of his decision.


TO THE MOON

The phrase refers to last year's cryptocurrency fever. Then you could often came across statements like: "Once the value of this coin will fly to the moon!»

REKT

This is a misspelling of “wrecked”. This term means a trader or investor who has lost all capital due to the current collapse of a price.

ADDY

This is a reduction from a public cryptocurrency address (key). For example: “Tell me your ADDY, please.”

FUD

Fear, uncertainty, and doubt. This term usually refers to investors who are unsure of the potential of a situation.

CHOYNA

A deliberately distorted the word China, a country which has a huge impact on the Bitcoin space — it has largely trading activities and dominated mining.

ALTCOIN — Any cryptocurrency except the bitcoin.

ASHDRAKED — A situation where you lost all your money.

BTFD — Buy The Fucking Dip (an indication to buy a coin when it has dumped so hard)

DILDO — Long green or red candles

DUMP — To Sell off a coin

DUMPING — Downward price movement

DYOR — Do Your Own Research

FA — Fundamental Analysis

JOMO — Joy Of Missing Out

LONG — Margin bull position

MCAP — Market Capitalization

OTC —Over The Counter

PUMP —Upward price movement

SHITCOIN — A coin with no potential value or use

SHORT — Margin bear position

SWING — Zig zag price movement (Upwards and downwards)

TA —Technical Analysis

REVERSE INDICATOR — Someone who is always wrong predicting price movements.
 
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