LIVECrypto Trader Terminology🧑💻 part l
Welcome to the world of cryptocurrency trading! Let's look at the basic concepts that you will encounter on the path to success.
1. HODL - Derived from a misspelling of the word “hold”. The term refers to the long-term holding of cryptocurrency in hopes of its growth.
2. FOMO (Fear of Missing Out) - Fear of missing out on a profitable opportunity. Leads to impulsive purchases when the price has already risen significantly.
3. FUD (Fear, Uncertainty, and Doubt) - Fear, uncertainty and doubt. Dissemination of negative information to reduce the price of an asset.
4. Pump and Dump - A scheme in which the price of an asset is artificially inflated (pump) and then sold, leading to its collapse (dump).
5. Bear Market - A market with falling prices. The bear attacks by moving from top to bottom, which symbolizes falling.
6. Bull Market - Market with rising prices. The bull attacks by raising its horns upward, symbolizing growth.
7. Whale - "Whales". Big players whose transactions can significantly affect the market.
8. Altcoins - Alternative coins, all cryptocurrencies except Bitcoin.
9. ICO (Initial Coin Offering) - Initial coin offering. A way to attract investment when new projects issue their tokens.
10. DeFi (Decentralized Finance) - Decentralized finance. An ecosystem of financial services on the blockchain operating without central authorities.
11. Shilling - Aggressive advertising or promotion of a coin, usually with the goal of increasing its value.
12. DYOR (Do Your Own Research) - Do your own analysis. Call for the need to independently study information before investing.
⛔️ Remember that success in trading is not only intuition, but also deep knowledge of the market.
HODL, don't give in to FOMO and always do DYOR!