CryptoCurrency Terms For Beginners

When I first entered the cryptosphere I came across so many terms that I didnt know what the meaning was like fomo, hodl, FUD, etc. So I decided to put together a list of crypto terms to help newcomers.

Altcoin: Any cryptocurrency other than bitcoin

Bagholder: A person who holds a particular crypto which decreases in value until it is worthless

Bear/Bearish: Negative sentiment or downward price movement

Bear Trap: A literal trap where a general upward price trend reverses downwards momentarily and will continue its upwards motion

BTD: Buy The Dip. An indication to buy a coin when it has substantially decreased in price

Bull/Bullish: Positive sentiment or upward price movement

Bull Trap: A literal trap where a general decreasing price movement reverses upwards momentarily and will continue its downwards motion

Dead Cat Bounce: A temporary recovery in prices after a huge decrease

Dump/Dumping: Selling away your coins/Downward price movements due to increase selling pressure by many

DYOR: Do your own research

ELI5: Explain to me Like I’m 5. An explanation (usually in Reddit) that is simplified that even a 5-year-old can understand

Faucet: Website that rewards you with small amounts of cryptos for the completion of a specific task

FA: Fundamental Analysis

FOMO: Fear Of Missing Out. This is a rookie mistake where a coin is skyrocketing and you get the feeling it’s gonna pump more, so you buy at the peak

Fork: Splitting of the Blockchain due to competing philosophies or protocol upgrade

FUD: Fear, Uncertainty & Doubt. Describes time of panic where negative sentiments are overexaggerated

HODL: Act of holding on to your coins even in dire market circumstances, resisting the urge to sell

JOMO: Joy Of Missing Out. Opposite of FOMO

Long: A positive or favourable view on the coin or the market in general, usually with an underlying investment on the coin in mind

MCAP: Market capitalization of the coin, which is an indicator of its market size. It’s derived from multiplying its market price to the total available supply of coins currently in the market

Moon: Expected upward movement (burst) of price, towards the moon

Pump: Upward price movement

Pump & Dump: Price manipulation by whales or collectives

Shitcoin: A coin with no potential value or use. Also, includes useless currencies such as fiat money

Short: Selling coins on margin (borrowing from the exchange), expecting the price to plunge

TA: Technical Analysis, or the analysis of prices based on historical price movements and fancy indicators

Rekt: A slang that refers to “wrecked”

Reverse Indicator: Someone who is always wrong predicting price movements

RSI: Relative Strength Index, a popular trading indicator used in technical analysis

Vapourware: A project that is never actually manufactured or implemented, synonymous with shitcoin

Whale: Someone who owns a huge number of coins that can influence prices of coins

Reference https://masterthecrypto.com/common-crypto-terms/

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Let me know what I left out in the comments and I could update it later on down the line. Thanks everyone.