You guys may be hearing of some acronyms in chat rooms, communities etc that you may not be familiar with. We wanted to put a list together so you can get a little more familiar with the acronyms in the crypto world. Such as:
- There is a lot of FUD right now
- I am going to HODL.
- FOMO was hitting me hard today.
FUD, FOMO, and HODL are just a few acronyms you will see often in the crypto world.
FUD- Fear Uncertainty Doubt. This can be from people spreading rumors to create FUD to drive the price down. It can also be real from news that came out. How you deal with it is up to you. I advise to research more into what could be causing this reaction in the community.
HODL- Hold On For Dear Life. This can be when a price goes down drastically and people are just going to HODL. Can also be when someone believes the coin they have is going to go up in price so they HODL
FOMO- Fear Of Missing Out. This happens when a coin goes up in price. People will get the fear that they will miss out so will buy even at a high price. We highly recommend avoiding this.
ATH- All Time High. Price of a coin at an all time high.
Bear- Someone who believes the price will fall.
Holding the bag- Someone who buys at an ATH and then the price falls and they are left holding the bag.
Whale- Someone with a big account in a crypto.
To The Moon- A way of saying the price is going up, or is believed to go up.
REKT- A person who had a huge loss got REKT.
ICO- Initial Coin Offering. This is when a company lets the public purchase the coin before it is on the exchange.
These will help you understand what you are reading more while doing your research. If you are familiar with some that maybe we missed hear let us know. We look forward to hearing from you.
-The AboveCrypto Team.