HOMEWORK TASK 1: FUNDAMENTAL CRYPTO TRADING TERMS EXPLAINED - Lecture By @besticofinder (Powered up 100%)

Hello Crypto Steemians!

INTRODUCTION
I want to express my gratitude to #cryptoacademy for this learning opportunity here . It’s going to be a game changer for a lot of persons here and beyond; I am inclusive. As a newbie in the crypto world, this is to me, an opportunity to learn and understand how cryptocurrency works at almost no cost and I am super grateful! The lecture by @besticofinder was so enlightening and I am here to submit my homework as requested.

MY TASK
Make an article with short explanations of following fundamental trading terms : Altcoins , Stable coin , trading pair , Bagholder , HODL , Sats , Bear/Bearish , Bull/Bullish , FUD etc.

Crypto trading terminologies and short definitions
ALTCOINS

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These are other crypto currencies apart from bitcoin. They were launched after the success of bitcoin so generally , they pride themselves as better alternatives to bitcoin. As at 2020, there are over 5,000 Altcoins that were existing( www.investopedia.com)
Some main types of Altcoins include mining -based crypto currencies; stablecoins,security,tokens and utility tokens. Altcoins was coined from “Alternative” and “coins”.

STABLE COINS

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Crypto currencies have a major disadvantage which is their volatility,ability to change in a split second. Stable coins are the game changers;they are used to improve on bitcoin by reducing its volatility and making it more steady.They are tied to already existing currencies unlike Altcoins. The most famous stablecoin launched is Tether and Facebook Libra is on the list too even though it hasn’t been launched yet.

FUD

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In Cryptotrading,FUD means Fear, Uncertainty and Doubt. Every trader is influenced by FUD having a great effect on their trading decisions. This could make someone hold coins more than he is supposed to.

TRADING PAIRS

[Source] (https://images.app.goo.gl/mf1B5a4cgbCdVRqc6)

These are currency assets that can be exchanged for another. Examples are ETH/BTC, BTC/USD...
The knowledge of trading pairs give you an advantage if you want to expand your crypto holdings,beyond the major coins. Trading pairs have the base pair as the second pair : ETH/BTC : BTC is the base pair.

BAG HOLDER

[Source] (https://images.app.goo.gl/YpJUM9bsSBvfG8tv7)

This is used to refer to a trader that holds unto his coins until the coin decreases in value and even becomes worthless down to zero. This can sometimes be due to ignorance of the declining value of the stock.

HODL

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This means holding the cryptocurrency without selling it. HODL was actually a misspelled version of the word”HOLD” by Gamekyuubi. In a bitcoin community group he belonged to, he mistakenly typed “I am hodling “ instead of “I am holding “.HODL was interpreted to mean “Hold On For Dear Life. It’s a slang used in the crypto community and someone who holding coins without selling is called a HODLer

SATS

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This is a short form for Satoshi, a term derived from the first name of Satoshi Nakamoto. It’s referred to as the smallest fraction of a bitcoin that can be sent . It’s in fact the smallest unit of a bitcoin. Its 0.00000001 of a bitcoin

BULL/BULLISH

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This is a trading terminology that can be used to refer to an upward trend in the market. If the market is bullish, there is an upward trend so the price Sor stocks and coins go up; this is the joy of every trader. The term is coined from the upward thrust of the bull with its horns.

BEAR/BEARISH

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As the bear swipes downwards to charge, bearish is used to describe the downward trend in the market.its the opposite of the bullish market. Here, the value of the cryptocurrency begins to go down and investors may loose their assets after a period of the bear race.

CONCLUSION
Thank you again @besticofinder for this lecture. I feel so elated having done this research myself and the homework too. This wouldn’t have come at a better time than now. I will follow through the classes to become better and hopefully a professional soon.

Thanks
Cc :@steemcurator01
Cc:@steemcurator02