Hey fellow Steemians,
I am more than glad to be back here after the completion of my exam, couldn't explain how much more i have this platform and its amazing people.
Today, i would love to draw our attention back to the cryptocurrency market where we have so many abbreviations in which if one is not careful enough will be lost in a group conversation when these terms start manifesting. It is with no doubt that the popularity of the cryptocurrency and blockchain keeps growing and it will certainly keeps growing. It is however of relevance to familiarize ourselves with the abbreviations and terms used in its world and market.
https://www.smallcapasia.com/what-is-fud-hodl-or-fomo-in-cryptocurrency-lingo-find-out-more-here/
Below are some of the most important slangs we will or however do come across on daily basis
1 FOMO
Fear of missing out (This usually occurs when a signal of breakout in price of a particular coin is being passed across and one is scared of not missing out in the opportunity)
2 JOMO
Joy of missing out (This refers to when one extremely happy for not jumping into the purchase or investing in a particular coin for some reasons which must have been hidden from the public or due to the failure of the coin)
3 DYOR
Do your own research (This is generally used by people that studies market and give trading advice to the general public, they generally use this to stay out unforeseen trouble by advising that people should not invest fully based on their on market prediction without carrying out their research)
4 FUD
Fear of uncertainty (This is one of the major problem that cryptocurrency market is facing as we have some big guys known as WHALE manipulating the price of some certain coin by spreading fake rumor about any coin of their choice so that the price can skyrocket and at this point they dump the coin and leave majority that comes late at a loss)
5 HODL
Hold on to dear life (This is simply keeping a coin no matter how little the price may be at the moment simply because one has done a proper research on the coin and found out that the coin has a very huge potential of increasing in the nearest future to come)
6 BTFD
Buy the fucking dip (We are in dip now guys, get in buy as much as you can because we all know the dip will soon be part of stories to talk about sooner than later, however do not forget to DYOR)
7 ICO
Initial coin offering (Majority of coins go through this stage, it is a medium through which money is being raised before lunching a coin, it is a great opportunity to get into a very good coin with a real life benefit at this stage)
8 TA
Technical analysis (This entails the full details or the operation of a particular coin)
9 MOON
Continuous upward movement of price (I can guess this is what we all love to hear the most, a particular coin is about to moon and we will all be excited, however for the purpose that are new, it simply means an upward breakout in price of a particular coin)
10 ATH
All time high (This refers to when a coin is reaching a price it has never reach before)
11 WHALE
(I could remember vividly when i joined crypto newly, hearing this sounds more like a fish to me and am always curious to know who these people are, in its simplest form, they are the big guys in the market, those guys that could influence the market either by buying a particular coin or by selling it)
12 KYC
Know your customer (This is employed by lots of exchanges or vendors where you can exchange fiat money for cryptocurrency to ensure they abide by regulations and can work to prevent money laundering, fraud and identify theft)
13 MCAP
Market capitilization (This refers to the total market value of the cryptocurrency, this is calculated by multiplying the current number of shares, coins or tokens in circulation by the current market price for a single unit)
14 PUMP & DUMP
(This occurs when a group of whales uses their influence and money to manipulate the price of a particular coin and later sells it off after lots of people has bought into the coin as a result of the FOMO)
15 SEGWIT
Segregated witness (process by which the block size limit of a particular blockchain is increased by removing signature data from the transactions, when certain parts of the transaction data are removed it frees up space or additional capacity to add more transactions to the chain. Segregate refers to separation and witnesses are the transaction signatures, therefore segregated witness in brief means to separate transaction signatures)
These are my picks for today, stay tuned as i will be sharing the trading terms and more tutorials shall be coming on the analysis of trading and techniques to deploy to trade successfully or invest successfully.
I wish you all hitch free and amazing interaction with fellow crypto-gang