I noticed that a lot of people who are just starting out with Bitcoin and cryptocurrencies are not familiar with the slang that goes around crypto. Because of that, I decided to write a short post explaining what everything is. #NewWords
Bulls in the crypto world 🐮
Bulls are the types of people who profit when the price of the asset goes up. They are said to be the ones who push the price up. Hence the term "bull market".
Bears in the trading world 🐻
Bears are the ones who profit from the falling price. They short the assets which means they are betting against them. For example, Bitcoin was in the "bear market" since the start of 2018.
Pigs in the investing world 🐷
Pigs are the traders or investors who forget their exit strategy and focus on securing unrealistic gains for their trades. They open trading positions, but don't close them and fix their profits even if they hit their targets. At the end of the day, as we all know, pigs get butchered.
Sheep in trading 🐑
Sheep is a term which describes investors and traders who don't have experience and are typically looking for easy gains and quick money. Those types of people normally lack investment strategies and often instead of doing their own research listen to others and make decisions based on emotions.
Hamsters in the crypto world 🐹
Hamsters is a term which has only gained popularity in the crypto world. You won't see it being used on the Wall Street, for example. This term describes the people who think that crypto is going to make them ultra rich very quickly. You can see bits of pig 🐷and sheep 🐑behaviour in the actions of hamsters 🐹.
Whales in trading 🐳
Whales is a term which identifies very rich traders. Whales can have a significant impact on the price of cryptocurrencies (especially small altcoins) just because their trading volumes are so large.
P.S. Don't be pigs, sheep or hamsters :)