Are cryptos still in "diamond hands"? Understand 8 cryptocurrency slangs first
The soaring price of many cryptocurrencies, such as $Bitcoin(BTC.CC$ and $Dogecoin(DOGE.CC$ , has driven many retail investors to the new market this year.
With all the attention, slang that was once just used for inside jokes in early cryptocurrency chat rooms and on Reddit threads has now become a part of the dialogue.
On May 19th, Elon Musk tweeted 「Tesla has ‘diamond hand’」 after many cryptos suffered sudden and significant price drops.
This message seemed very strange without a context, but essentially, Musk was confirming that Tesla was not planning to panic sell its Bitcoin holdings. In other words, the holdings are in diamond hands.
Here are some crypto slangs explained and examples from Twitter posts.
1. Whale
'Whales' are individuals who hold large amounts of coins of a certain cryptocurrency. This makes them powerful enough to manipulate the valuation of the said cryptocurrency and this results in price volatility.
「According to statistics and the addresses that you can find online — because bitcoin isn’t truly anonymous; you can actually find the whales — these are the people who own a ton of bitcoin. We’re talking about like hundreds of thousands of Bitcoin or more. -Peter Saddington, a serial entrepreneurand early bitcoin investor who runs a bitcoin community called The Bitcoin Pub
Example: Dogecoin price drops a lot in the last 24 hours. There must be a whale behind the movement.
2. HODL
In Bitcoin forums, someone misspelled the word 「hold」 in the post, and readers interpreted it as an acronym 「hold on for dear life,」 Saddington explains. 「Now, it’s become a meme of sorts, so that when the prices are highly volatile, bitcoin buyers say ‘HODL!’」
Example:
3. Bagholder
An investor who continues to hold large amounts of a specific coin or token, regardless of its performance.
「A bagholder, essentially, is a very unfortunate soul who at the end of the day — maybe from a pump and dump — who got ‘held with the bag,’ which means they wanted to sell at a higher price, but the market moved too fast,」 Saddington says.
Example:
4. FUD
FUD means 「fear, uncertainty and doubt.」
It is a strategy to influence perception of certain cryptocurrencies or the cryptocurrency market in general by spreading negative, misleading or false information.
Example:
5. FOMO
An acronym that stands for 「Fear of Missing Out」 and in the context of investing, refers to the feeling of apprehension for missing out on a potentially profitable investment opportunity and regretting it later.
Example:
6. Weak Hands
An investor prone to panic selling at the first sign of a price decline.
Example:
7. Pump and Dump (P&D)
A form of securities fraud/scheme involving the artificial inflation of the price of a cryptocurrency with false and misleading positive statements in order to sell previously-cheaply purchased stock at a higher price.
Example:
8. Mooning
If something is 「mooning,」 that means a coin’s price is experiencing a spike.
Often used in communities to question when a cryptocurrency will experience such a phenomenon, saying 「When moon?」
Source: CoinMarketCap, CNBC
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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102856020 :
101768675 : How ?
UR2EZ : who wrote this? most of these terms are not specific to crypto coins... actually half the examples are about AMC which is not crypto or coin
zh3ng : haha nice sum up. lol
Tony10x : BTC 4ever keep HODL
Manass : like that also can be writer ah, so many writers these day write useless stuff that can be easily find on the web....
Investing with moomooOP UR2EZ: The jargons were quoted from a interview conducted by CNBC with Peter Saddington, a serial entrepreneur and early bitcoin investor who runs a bitcoin community called The Bitcoin Pub.
As slangs get popular, not only crypto investors use them, but also stock investors. The examples here are just some recent cases to help with understanding
Investing with moomooOP Manass: We’re sorry it’s not of much help to you and taking your time.
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