Most Popular Cryptocurrency Terms in 2022
To start cryptocurrency transactions, it is necessary to understand the language of the industry first. Inexperienced people try to trade without having a good command of the industry language. This situation turns into a permanent loss for them.
Cryptocurrency terms are not included in dictionaries. They are not accepted as standard definitions. Despite this, cryptocurrency terms have managed to establish a popular language. People can easily get along with each other through these terms during trading.
We have compiled the most important terms you need to know for cryptocurrency transactions. Before you start trading, you can memorize these terms and make your job easier.
What Does The Term "hold" Mean?
The term “hold” is a word in the cryptocurrency dictionary and is often used by investors. Thanks to this word, investors can easily agree with each other. As you can guess from the meaning of the word, the term “hold” is used to express that you will hold a cryptocurrency for many years.
If you use this term, it means that you will not sell whatever assets you hold. The term became popular when it was misspelled on a famous Bitcoin forum in 2013. Later, it started to be used by millions of investors.
The holding strategy is generally accepted as the right strategy. People can keep the investments they trust for a long time and sell them at higher prices.
What Do Bearish and Bullish Mean?
Bear and bull seasons are characterized as periods when cryptocurrencies will go up or down. Bullish is used to express the period when cryptocurrency assets will rise to high prices. Bearish is preferred to indicate the period when cryptocurrencies will be at low prices.
These terms are perhaps the most preferred words in the cryptocurrency market. But these terms may not always be true. In short, they can also be misleading. If you see someone on the internet saying "we are in bear season", you should not believe it right away.
To understand these periods, you need your analysis. If your analysis indicates that crypto assets will fall, then it means the bear season has come. But if you think that the values of assets will rise, these rises mean that the bull season has arrived.
What Is the Meaning of FOMO?
The term FOMO is a word that has become quite popular among investors over time. This word is generally used for people who are new to buying and selling transactions. The most common meaning of this word is known as "fear of missing an opportunity". People under the influence of FOMO are afraid of taking advantage of the rise in cryptocurrency.
The term "JOMO" is derived as the opposite of the term "FOMO". This term is also described as “the joy of missing the opportunity”. Those who get rid of the sudden drop in cryptocurrencies can use this term. The person using this term has not been affected by the decline in cryptocurrencies and has not made any losses. In addition, this expression can be preferred for “people who do not own cryptocurrencies”.
What Is the Meaning of Airdrop?
The term "Airdrop", which is widely used in the cryptocurrency world, means the distribution of new cryptocurrencies as a reward in a certain amount. The airdrop system is similar to the advertising campaigns of brands for their newly launched products.
Despite the advertisements, there is a possibility that the product may not be sold, as well as the possibility that the cryptocurrency asset will not enter the stock market even if there is airdrop. But using this system will allow you to own new crypto assets.