Homework Task By @besticofinder|| Make an article with short explanations of following fundamental trading terms : Altcoins, Stable coin, trading pair, Bag holder, HODL, Sats, Bear/Bearish, Bull/Bullish, FUD And Fomo || @okoyejoshua
Hello every one welcome to my home work given to me by @besticofinder in this great community called @crypto-academy but before I continue with my home work I want to use this opportunity to congratulate our newly assigned crypto professors because they are doing a great job already.
In this home work I am required to to make an article with short explanations of following the fundamental trading terms : Altcoins , Stable coin , trading pair , Bag holder , HODL , Sats , Bear/Bearish , Bull/Bullish, FUD and FOMO ETC. so let me work you through it.
ALTCOINS
Altcoins are other crptocurrencies after Bitcoin because they sell as better alternatives to Bitcoin. The word Altcoins refer to all crypto other than Bitcoin and as of early 2020, there were more than 5,000 Altcoins by some estimates.
STABLE COIN
Stable coin as the name implies you should know that they are crypto or digital money for every day use just like your note currency but designed to stay at a fixed price or value even when other Altcoins prices changes it remains the same.
TRADING PAIR
The meaning of trading pair is a function whereby you have 2 different currencies or crypto that can be traded between one another, when you are buying or selling a crypto it is usually swapped with local currency or crypto for example, if you are trying to sell or buy Eth with Naira, the trading pair would be ETH to NGN or if you are trying to buy or sell ETH with BUSD, the trading pair would be ETH/BUSD.
BAG HOLDER
Bag holder in crypto is somebody who invest in an altcoin buy buying a lot when it was worthless with the hope that it will perform better soon even when there is no indication that it will but on some instances there have been indication.
HODL
The word Hodl is a slang used mostly buy professional crypto traders because they use it to refer to someone who decides to hold his crypto in his or her wallet rather than selling it maybe because the person wants a better price from the crypto in the future.
SATS
Bitcoin has gotten too big in value that it is not every body that can afford one Bitcoin so Sats is like a slang for Satoshi which refer to obviously some amount of bitcoin or to the smallest fraction of bitcoin which would be seen like this 0.01 or 0,00001 just not upto 1 Bitcoin that is what it means.
BEAR/BEARISH
Bearish is the exact opposite of Bullish because it is believed that a price of a stock or a crypto will fall, in crypto bearish market is bad because it just fall in price and obviously you want your crypto to rise in price that is why if you are a some who Hodl crypto you will have to sell before we hit bearish market because right now the market is bullish i will advice you keep hodling.
BULL/BULLISH
It is obviously the opposite of bearish because during bullish trend in any market if you have already invest it is time to sell and make profit because this is the time in crypto that prices ascend while in bearish it descend, right now we are in a bullish market in crypto that is why cryptos are reaching a new all time high in their prices.
FUD
In the image above you can see that he is either scared or confuse because fud in crypto is the term used to describe a negative happenings or news especially like when Janet yallen who is treasury minister in the united states tried to attach negative sentiment on crypto so as to scare investors.
FOMO
Fomo is the short form of saying fear of missing out and in crypto market this always happens for instance you wanted to buy a crypto but because of fear of losing you didn't buy it then when you check it later you saw that it was rising in price so fomo kicks in and you don't want to miss out then you buy it, sometimes it is good and bad because if it keep rising you will not miss out but if it tarts to fall you will loose.
CONCLUSION
I want to thank every one who has made it this far reading my home work assigned by @besticofinder and i hope i explaned it very well Please @steemitblog and @besticofinder, here is my task entry and thanks for reading.
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