Cryptocurrency

FOMO, FUD, HODL cryptocurrency terms explained

FUD, FOMO explained
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Stop spreading FUD!
It is FOMO all over.
Keep HODLING them.

The above three sentences are frequently heard in crypto trade. Often confused to understand what they are meant? So here we are to explain you the most used acronyms and abbreviations in the cryptocurrency world.

1. FOMO:

The word FOMO is not new and is not an invention of the Bitcoin ecosystem. The expansion of the term is Fear Of Missing Out. It implies fear of missing out good rewards by not investing at right point of time.

FoMO is characterized by the desire to stay continually connected with what others are doing.

2. FUD

FUD is an acronym of Fear, Uncertainty, and Doubt. This is a term borrowed from Wall Street. FUD is generally a strategy to influence perception by disseminating negative and dubious or false information.

Also read: Ether and Ethereum difference explained

3. ATH

ATH is an abbreviation of ‘All-Time High’ which means the price of a certain commodity/currency has broken all earlier records.

4. Whale

Whale is a term borrowed from the gambling industry. A whale, in general, is a gambler who consistently wagers large amounts of money. In cryptocurrency terms, it refers to a person who owns a huge amount of particular coins and is often involved in artificial manipulations of pricing of the coins.

5. Bagholder

Bagholder is referred to a person who has been holding coins of worthless value for too long.

6. Rekt

Urban dictionary refers Rekt as a spelling variation of the word wrecked commonly used in social media and SMS messaging. In cryptocurrency terminology, it refers to a person whose wealth eroded due to the current downfall of the prices.

7. To The Moon

It refers to the unprecedented upward movement of cryptocurrency.

8. HODL

The word dates back to 2013 when the price of bitcoin was highly volatile. As the prices were crashing, Bitcoin folks at Bitcocintalk.org started a discussion to outline investing strategies. And one user going by the name GameKyuubi started a thread under the title ‘I AM HODLING’ possibly a typo for the word HOLDING. Soon folks started using the word satirically for the word holding. HODLING has the same meaning of HOLDING i.e, keeping the coins, in an assumption of future price appreciation.