Trader Tips - Cryptocurrency slang terms explained
HODL - In early bitcoin forums, someone posted a message that spelled the word "hold" wrong, and readers interpreted it as an acronym "hold on for dear life," Now, when the prices are highly volatile, bitcoin buyers say 'HODL!
FUD - FUD means "fear, uncertainty and doubt." Bitcoin followers advise to HODL your coins despite the FUD of those outside the community.
Sats - Sats" is short for "satoshis," a term derived from the first name of bitcoins mysterious creator, Satoshi Nakamoto. It refers to the smallest fraction of a bitcoin that can be sent, which is 0.00000001 of a bitcoin. Instead of looking at bitcoin in terms of a dollar value, traders look at sats, or satoshis.
Whale - A whale is someone who owns a lot of cryptocurrency, According to statistics and the addresses that you can find online — because bitcoin isn't truly anonymous; you can actually find the whales — these are the people who own a ton of bitcoin. An estimated 1000 people own 40% of the worlds Bitcoin.
Pump and Dump - Pump and dumpers are people who often say, 'Hey, let's all of us together pump this coin,' which means buy the coin, create the demand in the market, the coin will go up in value, Then, everyone "dumps" the coin and sells. These schemes are often orchestrated through social media apps like Slack, Telegram, Twitter or Reddit.
Bagholders - A bagholder, essentially, is a trader/investor who at the end of the day — maybe from a pump and dump — got 'held with the bag,' which means they wanted to sell at a higher price, but the market moved lower too fast. Then, that person is left with "a coin they don't want at a price they can't sell at.
Mooning - If something is "mooning," that means a coin's price is experiencing a spike. The term is often what you'll see on Twitter, or social media sites.
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