Hello everyone, Hưng here!
Have you ever joined a chat group or read news on Binance and felt like people were speaking a foreign language?
"Don't FOMO!", "Be careful of FUD", "This one is about to hit ATH"... It sounds like a code! To avoid being "outdated" and to understand what everyone is talking about, today Hưng will decode the 5 most common terms that everyone should know.
1. FOMO (Fear Of Missing Out)
📖 Meaning: The fear of missing out.
For example: Seeing $BTC skyrocketing to 125k, you fear it will reach 200k so you rush to buy at the peak. That’s you falling into FOMO.
💡 Advice: When you feel FOMO, turn off the machine and go to sleep. Buying in excitement is the fastest way to halve your account.
2. FUD (Fear, Uncertainty, and Doubt)
📖 Meaning: Fear, uncertainty, and doubt.
Usually used to refer to bad news (true or false) spread to create panic, causing people to fearfully sell coins at a low price.
💡 Advice: Verify information from multiple reputable sources before believing in FUD.
3. HODL (Hold On for Dear Life)
📖 Meaning: Hold tight to coins, absolutely do not sell.
It stems from a typo of the word "HOLD", now it has become the philosophy of long-term believers. Despite the stormy market, they still HODL.
💡 Advice: Only HODL good coins (Bitcoin, ETH...), don’t HODL "junk coins"!
4. WHALE (Big Fish)
📖 Meaning: Those "big players" hold a massive amount of coins.
A whale's sneeze (buying or selling a large amount) is enough to shake the market, causing big waves.
💡 Advice: We are the "small fish", let’s swim with the tide, don’t try to stop a freight train.
5. ATH (All-Time High)
📖 Meaning: The highest price of all time.
When a coin breaks its old peak to set a new one, it is called breaking ATH. Conversely, we have ATL (All-Time Low) which is the lowest price in history.
🔥 CLOSING REMARKS FROM HƯNG:
Understanding the language of the market is the first step to not being "adrift". Do you have any other terms that are hard to understand? Comment below for Hưng to explain in Part 2!
🔔 Act now! If you find this post useful, please Like & Follow the channel to upgrade your knowledge every day with Hưng. Knowledge is power!
