Bitcoin Lingo That Every Crypto Newbie Should Be Aware Of
Just like Bitcoin, no cryptocurrency has been in the limelight in the actual world. Many people also admire Ethereum. However, Ethereum is not that much acceptable in many parts of the world. The craze of Bitcoin is such that even Wall Street takes time to observe the crypto closely. After the crash from 2017, Bitcoin was the one reaching many all-time highs. Bitcoin remains the favourite among people, even if it has the reputation of extreme volatility. Recently, many new individuals are joining the crypto world and want to get closer to the Bitcoin lingo. This article will guide them thoroughly.
Terms To Understand From Bitcoin Lingo
What is HODL in crypto? Every person entering the crypto world comes across this question. The whole story starts when GameKyuubi, a notable crypto personality, mistakenly posted, “I am HODLing” instead of “I am holding”. Later, the term HODL became the most popular one. So, if you are keeping your Bitcoins in the wallet, you are HODLing them. The term is mostly used with Bitcoin and not other cryptocurrencies. Many investors at that time were interested in Bitcoin. Other cryptocurrencies were not in their best position. When you own Bitcoin in your wallet, you are a HODLer.
2. Diamond Hands
This popular term is frequently seen in several posts on Twitter and Reddit. Diamond hands indicate bullish acumen. Many investors keep their crypto investments tightly even when the prices of cryptocurrencies fall. Besides investors, traders can also use diamond hands while posting on social media platforms. You should HODL your cryptos in the wallet because it has been observed that many are profitable. Ultimately, when you HODL cryptos during the toughest times, you put diamond hands on your cryptos. Elon Musk has recently used diamond hands in one of his tweets for cryptocurrencies. It is a crucial term to know.
Crypto halving is also known as crypto halvening. Whenever any cryptocurrency becomes costly, its supply gets reduced to half. As Bitcoin and Ethereum grew popular, their supply decreased to make everything work better with demand and supply. Like Bitcoin and Ethereum, there are hundreds of others getting rarer. A majority of Bitcoin forks are getting valuable for those looking to invest and trade with them. Other assets like Yearn.Finance, stETH are getting expensive these days. While arriving in the market, there are billions of tokens that get reduced to millions or less as time passes by.
4. Weak Hands
Weak hands are just opposite to diamond hands. The term is related to panic sell and applies to newbies who sell their assets after hearing negative comments on their HODLing. Although ‘weak hands’ is used to denote all the weak investors keeping Bitcoins while going insane at the same time, it can also be used for the new altcoiners(altcoin HODLers). In today’s time, there are 5000+ cryptocurrencies, and the number is increasing day by day. Some receive their ideas from Bitcoin, while others carry their own innovation. You may have weak hands while dealing with these cryptocurrencies.
Crypto whales are those organizations that are buying massive amounts of Bitcoin. They do this to manipulate the prices in their own favour. Crypto whales are pushing concerns in the crypto world because these organizations are destroying the decentralized aspect of cryptocurrency. Besides keeping cryptos, there is no other way to manipulate the prices indirectly. Speculations arise when any organization buys Bitcoin massively. People may find that crypto is valuable for a particular period when billion-dollar investments happen. However, when the whales sell off, prices plummet quickly. Many investors and traders get into a trap at that time.
From Where To Stay Updated?
The best sources to stay updated with crypto news and predictions are the crypto platform and Twitter. You can find the latest cryptocurrency news feed, updates, price predictions, airdrops, ICOs, IEOs, STOs, etc., from a crypto platform. If you find them on Twitter, you could face problems. That’s because Twitter remains full of opinions lacking any consistent analysis. On the other hand, a crypto platform performs constant research, and after reaching the most accurate results, it provides price predictions. So, stay tuned with a trustworthy crypto platform before trading and investing in cryptos. Educate yourself on these platforms to get the best results.
These are significant terms from Bitcoin Lingo everyone should know. Cryptocurrencies are getting far better than traditional assets because traditional assets lack volatility. The crypto market is remarkably unpredictable. If someone wants to guess out a few trends progressing at a particular time, he or she should take help from a crypto platform. Crypto news and updates from here tell what’s going on in the crypto world at the latest. After some days, you can get started with trading and investing. Both crypto trading and investments vary for different individuals. Eventually, the path you choose depends on you.
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