The cryptocurrency space that experienced the acute bull run, a huge number of bitcoiners has come into play and they are welcome than ever before. So this particular situation means that these new users have to do a lot of homework before they invest their money in cryptocurrency such as knowing new terms like Hodl. But it does not have to be for a long time!
Of many things, the newcomers first should get literate in jargon and vernacular of the space. It will be like everyone is speaking an unfamiliar form of English that you have never heard before. But don't worry; you can learn it very easily by just going through this article which will let you know what is Hodl and many other terms.
What is HODL?
“Hodl” is nothing but a misspelled word of “Hold “that actually defines the spirit or mood of the investors in cryptocurrency. This particular term originated from the Bitcoin talk forum which was titled “I AM HODLING”. It was misspelled by a “Gamekyuubi”, a user, who conveyed his reasoning that he was drunk and he was holding his BTC in spite of the downfall that just happened! After this incident, this misspelled term became very much popular in the cryptocurrency and Bitcoin world. While in a conversation, when a person says that he or she is holding or implies hodl, it means that that particular person still believes that their coin will turn out profit someday!
This misspelled phrase "Hodl" is also described as “Hold on for dear life”.
Other popular terms that everyday traders in cryptocurrency should know are:
ATH: ATH stands for all time high and it is meant for the high pricing! In the world of cryptocurrency, it actually directs any given token or coin that can achieve the highest price milestone. In other words, it means that the price of a particular coin or cryptocurrency has received the highest price that it had ever achieved and thus has smashed all of its past records.
When a certain cryptocurrency does hit a new ATH you should expect profit regularly after that!
FUD: Fear, uncertainty, and doubt! This term actually refers to all investors who are not sure of the present scenario that holds a lot of potentials! Though a number of people say ‘despair’ and not ‘doubt’. This term describes the intensified sense of anxiety and panic that spreads all over the ecosystem like fire. This is definitely not deserved all the time!
When a serious issue comes it does make the whole community frightened in case of a legitimate FUD. Some of them are restrictive regulatory announcements or hacks.
REKT: It is another misspelled term for the word wrecked! This term refers to investors and traders who are destroyed and ruined with the losses from the present downfall of the price!
FOMO: FOMO or Fear of Missing Out happens when an investor do fear that he or she will miss out a profit because of any decision or investment that he or she has made! It is actually a panic situation. It is when an investor freaks out when prices go upwards as these traders were looking for short-term prices! So when you are just new to this crypto world you should always try to consider your position.
You should be very much careful of FOMO, else you will end up being a...
Bagholder: These are people who always buy different currencies at a high or during a bull run! When the price lowers they actually become bagholders as they get stuck in a position where if they sell it also, he or she will suffer loss! So the right way to handle this is to hold your bags until and unless the price again goes higher!
Bear: This term is actually taken from the Wall Street people! It means when an investor or a trader believes that a certain crypto coin will lose its value in the market and then he or she will make a profit from it!
Whale: Again this a term that is being taken from people who gambles! It means when a rich investor who thinks that the market will rise on a particular cryptocurrency! They are also called bullish whales!
Other terms like ALTCOIN means any type of cryptocurrency except bitcoin, FA means Fundamental Analysis, OTC means Over the Counter, TA means Technical Analysis!