The Hip Vocabulary of the Crypto World

• Crypto terms and jargons you should know
• Knowing a few crypto terms can help you navigate the crypto world with confidence, and engage in conversation with others
• Advent of crypto terms primarily started from the crypto community within

From outside of the digital asset space, the world of cryptocurrency may appear to be an alien atmosphere. If you have visited Twitter, Reddit, or any other community-based forum, you may probably be aware of the term “meme-speak,” which refers to the way people on the internet communicate. It is called a meme-speak because cryptocurrency is a digital asset that was created on the internet.

Besides that, every time there is a bear market position, or crypto price goes “to the moon,” members on the internet spam online the term “HODL.” These are all meme-speak adopted by the crypto community that makes crypto novices feel intimidated at the first glance.

The majority of the popular crypto words are listed below, along with their explanations.

Bull and Bear Market

A bear market occurs when the prices of all digital assets are in a downward trend and people are afraid of investing in the market. During a bear market, crypto investors lose a large portion of their investments. As a result of the market’s decline, investors tend to liquidate their holdings to avoid further losses.

Bull-run

A bull-run is another crypto jargon that occurs when there is high confidence in a particular cryptocurrency. People buy a particular crypto asset to pump its price amid a bull-run. Bitcoin (BTC) experienced a bull-run in October and November 2021 when it hit $68,000 all-time high.

HODL (Hold On For Dear Life)

For obvious reasons, the origin of the term “HODL” is quite amusing. It originated as a typo of the word “hold” that was quickly converted to meme. In a nutshell, HODLing is when people buy-and-hold cryptocurrency and do not plan on selling in the foreseeable future to profit from their investment no matter what happens in the crypto market. Crypto community chants “HODL HODL HODL!!” when BTC or an altcoin surges.

Buy the Dip

When a crypto asset price declines, its supporters exclaim that they are “buying the dip.” They always feel that is the best time to purchase more at a low price.

FOMO

FOMO stands for Fear of Missing Out. It symbolizes a situation where a cryptocurrency market is sharply gaining momentum. On the other hand, FOMO can be explained as a market condition when you are concerned that you’re missing out on a significant opportunity to buy a particular cryptocurrency when it’s at a good price, while others are profiting.

Pump and Dump

Pump and dump is a type of securities’ fraud in which criminals disseminate false or misleading information to artificially inflate the price of a crypto asset. This is done by pumping the price by claiming that a particular coin or token is the next best thing, despite the fact that the coin has no good use cases. These individuals sell their assets at a higher price and exit the market when the price of the asset rises.

Mooning

A cryptocurrency is said to be mooning when it experiences a sharp upward market trend. Another common use of the phrase is “to the moon,” which refers to a strong belief that the price of a particular cryptocurrency will soon skyrocket.

Sh*tcoin

A digital currency with no obvious use case or function is called a shitcoin. In other words, shitcoin can be termed as a cryptocurrency with no or very little intrinsic value. Bitcoin maximalists believe that every other token apart from BTC is a shitcoin. This is because Bitcoin is immutable and its transactions have never been reversed.

Closing Thought

To be able to make the right selection of cryptocurrencies for trading during a bear or bullish market position, and also keep track of the next coins and tokens to go to the “moon”, it is worth mentioning that XT.com is the most reliable and trustworthy digital asset exchange to visit.