Cryptocurrency’s fame has undeniably skyrocketed over the past years. Meanwhile, digital tokens’ volatile price has either created or wiped out millionaires and billionaires across the globe. In the world of the crypto market, even for seasoned investors and traders, jargons are always present. If you are keen on cryptocurrencies, you might have heard the word “mooning.” Read on to learn what does mooning mean in cryptocurrency.
What Mooning Means In Digital Currency
In the crypto world, you will likely hear the word “To the moon,” or more commonly referred to as “mooning.” Sounding off as it may be, it relates to the price of a particular cryptocurrency increasing rapidly and sharply.
What does mooning mean in cryptocurrency? When cryptocurrency traders use this expression, it implies that the coin price is on a rocket ship or is experiencing a spike. Contrary to popular belief, it’s pretty much typical for an altcoin to increase its price suddenly, but “mooning” is a rare phenomenon than others may think. At some point, any asset is bound to have a degree of volatility, and altcoins are no exception to this event. Any seasoned trader can tell you that volatility can have its upsides and its downsides, that is, a giant spike and a massive plunge, respectively. In other words, “mooning” refers to investors’ beliefs and not the market’s actual movement. Like in any other assets, keeping an eye on your altcoin investment day to day can make sense.
Other Crypto Jargons
To communicate well with cryptocurrency, one must be aware of some terminologies, especially when negotiating or closing a deal. That being said, many jargons and some acronyms may well be a familiar word to cryptocurrency enthusiasts and their communities. Although not limited to the blockchain industry, one good example is the term “moon,” which is widely used within the digital currency community, especially among investors and traders.
To fully understand some phenomenon concerning cryptocurrency, take note that you have to be aware of what led to Bitcoin’s price to rise in the first place. In a typical setup, the main reason behind an upward trend is that many people are buying and storing Bitcoin, especially considering that the crypto market’s movement depends on the volume of coins being released in the market. So, as mentioned earlier, jargons are an inevitable part of trading. To name a few, they are as follows:
It means to stay strong, HODL even when values are dropping. In primary bitcoin settings, the supposedly spelled “hold” message was misspelled, and readers interpreted it as an acronym for “hold on for dear life.” Today, the expression has become a meme of sorts, so when the prices are highly volatile, bitcoin buyers say this jargon.
FUD is instead an acronym that stands for “fear, uncertainty, and doubt.” So, in essence, FUD actually tells you something that is not likable might occur or is already happening at the moment.
Sats is a short term for satoshis, derived from the first name of Satoshi Nakamoto, the presumed pseudonym of the person who developed Bitcoin, who also devised the first blockchain database. Sats refer to the smallest fraction of a bitcoin that can be sent. So instead of looking at bitcoin in terms of a dollar value, seasoned traders look at sats.
A whale is what traders use when someone owns several digital currencies. According to many reports that you can read online, Bitcoin isn’t genuinely anonymous as you can see the whales that own numerous cryptocurrencies.
Bagholder is a common expression when you are watching over the trend of cryptocurrency on a daily basis. When investors mean that their coin will sell-off, they are expecting somebody to be the bagholder. Bagholder is someone who lost to the profit of the day. It simply means that someone with a particular digital token is left at a low value that won’t give you enough return or yield.
Implication of Mooning in Cryptocurrency
What does mooning mean in cryptocurrency, and what is its implication? As experts explain using science, cryptocurrency is known for its volatile feature. Now, when talking about digital currency concerning the moon, simply put, if there’s a consistent purchasing of vast volumes of Bitcoin in the market, it’s inevitable that the chart will climb higher every day.
So the more mainstream Bitcoin becomes, the more people will buy and participate in the market. When you have an idea about what does mooning mean in cryptocurrency, you are getting a good deal of your investment. Mooning isn’t that bad after all, as it is always considered a positive phenomenon for cryptocurrencies.
Hopefully, you have enough idea as to what does mooning mean in cryptocurrency. Apart from using the expression “mooning” to describe how the chart looks, it’s also worth noting that such terminology is also used when predicting the movement of the market price. Mooning first occurred to Bitcoin in 2017 when its price breached the high dollar mark. In the first quarter of 2019, Bitcoin’s price went to the moon again, and now in 2020, the chart shows suggestive signs of an aggressive rise in its cost. Learn more about cryptocurrency here!