Want to Invest in Bitcoin? Let's Check Out Some Cryptocurrency Slang

Cryptocurrency is the latest buzz, and people are discovering new digital currency slang to make it look even more remarkable. The first cryptocurrency slang became famous as a joke when some mistyped hold as HODL. Visit the Bitcoin Evolution app to avail a detailed analysis of bitcoin trading. The term HODL is present everywhere in the cryptocurrency community as people. Pump and dump, paper hands are a few other popular cryptocurrency slang.

Newbies and retail traders are not familiar with the majority of cryptocurrency slang. However, here are some popular cryptocurrency slang and terms that you should know about to remain updated with the market trends.

HODL

As discussed above, when it comes to the most famous cryptocurrency slang, HODL appears first. HODL became famous as a meme trend. In the market crash of 2013, people were panic-selling, and in a popular bitcoin forum, a bitcoin holder mistyped hold as HODL and from that is where HODL became the most famous cryptocurrency slang.

Now, whenever there is a situation of a panic sell in the marketplace, cryptocurrency supporters start posting HODL to stop people from further selling off their digital currency assets. HODL have saved the market from crashing multiple times. As per reports, HODL is the abbreviation for hold on for dear life. In the recent market crash, HODL was utmost utilized digital currency slang by cryptocurrency investors.

FUD

FUDs are accused of crashing the cryptocurrency market or a particular digital currency multiple times. FUD is always used as negative slang in the cryptocurrency marketplace. FUDs make people sell their cryptocurrency assets by creating a double thought in their minds regarding digital currencies. FUDs are also popular as fudders.

Cryptocurrency experts always advise budding investors or traders not to be a part of any community that comprises fudders. A digital currency that was heavily impacted by fudders is eternal.

Recently NFT game emerged in the marketplace, and the native token of this game was eternal. Unfortunately, Fudders in the NFT community made people sell their eternal holding, and it crashed the price of this digital token.

To the moon

You might have heard about Dogecoin to the moon slang. People are using this slang for every possible cryptocurrency that they are supporting. To the moon in the cryptocurrency community depicts the excessive growth of a digital currency in terms of spot price, and people want that digital currency to grow more. To the moon, slang is usually used for altcoins or infamous cryptocurrencies. However, to the moon is also used as a marketing strategy in many cryptocurrency communities and makes people believe that a particular digital currency will explode in terms of the spot price.

Whale

Usually, whales in the cryptocurrency community refer to as bitcoin whales, but whales can be any person or group holding the magnificent extent tokens of a particular virtual coin network. Each cryptocurrency network has its criteria to refer to a person as a cryptocurrency whale.

For example, if you want yourself to be referred to as a bitcoin whale in the bitcoin network, you must be holding more than 1000 BTCs in the wallet. These people are known as whales because even the slightest movement of such individuals significantly impacts the entire digital currency market.

Whales are very dangerous for the digital currency market as they account for a significant reason for making the market more volatile and wild. The list of bitcoin whales comprises the creator of bitcoin, Winklevoss twins, and Tim Draper. In addition, many MNCs like Microstrategy have also termed bitcoin whales.

Pump and Dump

P&D is nearly a cryptocurrency scam. Pump and dump are very similar to decentralized rug pull. Majorly famous personalities are responsible for the pump and dump scheme. A pump can also occur when significant investors buy a particular digital currency for a specific price point. After a massive buying order, the price of that token increases.

Once innocent investors buy that particular token, the price increases more intensely. Later these whales and magnificent investors decide to sell off the token and crash the price of that token.

The above-listed portion describes everything about the pump and dump scheme.

 

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