With the continuous growth and acceptance of cryptocurrencies, there are common words which most of us need to know. These common words should be known by those who have stayed long in cryptocurrency market but I know some have stayed years in cryptocurrency yet they no nothing about some cryptocurrency terms because they're only after trading and making profits. Those who're new to cryptocurrencies should mostly be the one to worry about the common languages used in cryptocurrency.
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I believe that knowing some of the common languages for cryptocurrency should be helpful to anyone dealing with cryptocurrencies. Understanding the common languages for cryptocurrency will serve as a tools to guide when investing, trading, and holding. When understood, there'll be no way a person dealing with cryptocurrencies will be scared to enter any market. A person dealing with cryptocurrencies must understand how the market works so not to make mistakes of the unknown and regret.
Some of the common cryptocurrency languages include, Cryptocurrency Newbies, volatile, moon, bearish, FOMO, hold, and trade.
Cryptocurrency Newbie:
This are those who recently joined cryptocurrency and are yet to know how it works whether to stay or to continue with the market. Most of this people usually makes mistakes in trading, holding, and sometimes falls into the hands of scammers. I believe that when this set of people in cryptocurrency market falls in the hands of scammers, it's usually the best teacher for them because they'll hasten to know more about cryptocurrencies and also amend their ways for the market.
Cryptocurrency volatile:
This is a normal language in cryptocurrency and it's important that we get familiar with such language. Understanding this language will help to make those who deals with cryptocurrency know that the cryptocurrency market price is not fixed and can change without anyone controlling it like the normal fiat currency government of the nation controls. A cryptocurrency dealer will need to understand that she can decide to buy a particular cryptocurrency and if the cryptocurrency is not traded or converted to a USDT, the amount of cryptocurrency bought could reduce and sometimes get lost due to the cryptocurrency volatility. The same amount of cryptocurrency bought and hold could also increase in value thereby generating a profit for you.
Cryptocurrency to the moon:
This language is what almost everyone dealing with cryptocurrencies will wish to hear because that should be the most interesting things while people rush to invest, trade, and do other things in cryptocurrency for profit making return. When cryptocurrency is said to be to the moon, it simply tells you that the price of cryptocurrency value has gone very high that those holding that particular cryptocurrency will be smiling as they must have made a profit. All cryptocurrency can't go to the moon at the same time but only some cryptocurrencies depending on the nature of their market volume.
Cryptocurrency bearish:
This is almost what everyone don't wish to hear about cryptocurrency because it's usually the time of loose and not for profit making. When cryptocurrency is in it's bear time, I means that the cryptocurrency is down wish can later change later that no one knows when it'll happen. For those who understands that cryptocurrency can go down as anything, they usually use such time to buy or invest more on the cryptocurrency by holding to when the market returns to the moon.
Cryptocurrency FOMO:
This language is not as others because a lot of people who deals with cryptocurrency finds it difficult to avoid the situation. FOMO (fear of missing out), investors may not want to miss out about a particular cryptocurrency because people are talking about it or the price of the market went up. So, they'll not like to miss the news and then went ahead to invest without proper knowledge about the cryptocurrency. Most investors falls into this cryptocurrency languages except those who understands how the market works. You remember Luno, Zuga coin, and many others cryptocurrencies that people talked about and it pushed a lot of people to invest in the cryptocurrency without making a proper investigation. Thier decision affected them the time the cryptocurrency went very low to nothing. A lot of investors who because of FOMO and invested lost almost their money.
Cryptocurrency hold:
This cryptocurrency language is usually very difficult for most investors to follow because they feels it's usually long for them and holding may make them loose their investment. Holding is investing in a particular cryptocurrency which you may set a target when you make certain profit you'll sell. In this situation, an investor who holds a particular cryptocurrency may not care to know if a market is down or up but all she knows is to reach her fixed profit making limit without considering how long the cryptocurrency will recover for her to make a profit.
Cryptocurrency trading:
This language is when an investor decide to open a cryptocurrency exchange account and then she buys and sell a particular coin.