Terms and phrases popularized in crypto
Reading posts and articles about cryptocurrency on social media can be confusing. Users who have been investing for a while now seem to have a bubble of their own where only they can understand each other.
To get in and benefit from their conversations, here are terms and phrases popularized in cryptocurrency that you should know:
FOMO (Fear of Missing Out)
In everyday life, FOMO refers to the feeling of not being included in something where others are having fun or doing better. In cryptocurrency, it’s the fear of missing out on a profitable opportunity.
FOMO gets intense when the market is fast rising. Traders are gaining huge profits out of their coins. If you have FOMO, it means you’re getting anxious about missing out on the frenzy, which could lead to emotional decisions.
HODL (hold on for dear life)
HODL is the misspelling of HOLD. The term originated from GameKyuubi, a Bitcointalk forum user, who misspelled the word “hold” when he was talking about his holding onto his coins.
HOLD is a trading strategy where traders hold onto their coins or tokens even during market crashes. HODLers expect the price to rebound and make up for the losses in the long term.