(A special gift for the first article pinned on my channel 💲)
If you’re new to the world of cryptocurrencies, you may have heard terms like “whales,” “bears,” “bulls,” and more. These terms are very common and reflect some of the basic concepts in the market. Here’s a quick explanation of the most prominent ones:
1. Whales:
This term refers to large investors or institutions that own large amounts of cryptocurrencies.
Their influence is powerful; their movements can lead to significant price changes.
2. Bulls:
These are traders or investors who expect prices to rise and buy currencies accordingly.
A bull market is a period when prices are generally rising.
3. Bears:
This term refers to traders who expect prices to fall and sell currencies or enter into short trades.
A bear market is when prices are generally falling.
4. FOMO (Fear of Missing Out):
Fear of missing out. This occurs when people buy a currency randomly for fear of missing out on a profitable opportunity.
5. HODL:
A term that means holding cryptocurrencies for a long period of time rather than selling them quickly, even during times of market volatility.
Why are these terms important?
Knowing these concepts helps you understand how the market moves and interacts, enabling you to make smarter investment decisions.
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