Popular Crypto Slang Terms. Part 9
Want to converse like a crypto trader? We’ve compiled another list of the most popular crypto slang terms to help you better understand the market dynamics.
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Did you know that nearly 50% of Americans use slang without fully grasping its meaning? By keeping up with our articles, where we explain the meanings of various terms found on crypto forums and social media, you’ll avoid such confusion.
Hawks and Doves
The terms “hawk” and “dove” describe opposing views on monetary policy among members of a central bank’s board. These terms frequently come up at Fed meetings where key rate decisions are made.
Hawks are fiscal conservatives who favor tight monetary policies. They advocate for higher interest rates to control inflation, which can negatively impact economic growth by making loans more expensive and reducing consumer spending. This, in turn, reduces the overall money supply and lowers the prices of financial assets, although it strengthens the national currency.
Doves, in contrast, favor a more liberal monetary policy with lower interest rates to stimulate the economy. This approach often leads to higher inflation but can also boost consumption, job creation, and increase the value of financial assets. However, it tends to weaken the national currency.
It's important to note that a politician's views can evolve based on economic conditions. For instance, Federal Reserve Chairman Jerome Powell, who began his tenure in 2019 by lowering the interest rate and introducing a medium-term inflation targeting regime, is now considered one of the most stringent hawks among his predecessors.
Hawks can transform into doves and vice versa. Source: Х
Chartist
A chartist is an analyst or trader who relies solely on price charts to forecast the future movements of assets. They pay no attention to news about unlocks, events, or upgrades, as everything they need is encapsulated within the chart itself.
Chartists pinpoint support and resistance levels, while also scouting for specific patterns and graphical models that might suggest the future trajectory of prices and the most opportune moments to execute trades.
Chartists interpret charts as if they are reading books. Source: skilling.com
Chartists are adept with Elliott Waves and will never confuse terms like “nuke” and “DCB”. However, they disregard the fundamental metrics of companies and industries.
Often, neglecting certain aspects of forecasting can increase risks—much like how a perpetually green traffic light does not ensure a safe crossing.
Traders who blend technical and fundamental analysis tend to be more successful, though they'll never be considered true hardcore chartists.
Stonks
HODL might be the most famous, but it's not the only typo that's inspired a wave of crypto memes.
The term “stonks” originated from a typo in a post about the stock market where “stocks” was accidentally spelled as “stonks”. Despite being a mistake, this colloquial term has become widely popular on the internet, especially among cryptocurrency enthusiasts.
It now conveys a tongue-in-cheek view of investing and typically describes transactions influenced by trendy trends, FOMO, or FUD. The term has integrated into meme internet culture and is frequently used in comics, videos, and other formats to mockingly comment on financial decisions. It even inspired a meme token.
The stonks meme depicts a character (Meme Man) analyzing a chart. It’s often used to highlight irrational financial decisions, affecting not just cryptocurrency ventures but other financial domains as well. For example, the meme is apt for scenarios where someone:
- squanders all their savings on lottery tickets;
- acquires a mortgage for a flat in a plummeting property market, hoping for a swift flip;
- invests in a friend's business based solely on personal ties rather than economic soundness;
- purchases stocks of little-known companies purely on a hunch.
The stonks meme first appeared in 2017. Source: knowyourmeme
The stonks meme is used to ridicule someone making a reckless decision without considering potential risks.
Mr. Goxx
Don't mix him up with Mt. Gox!
“Mr. Goxx” refers to a trader who seemingly makes random trades and inadvertently turns a profit. This nickname pays homage to a legendary trading hamster that successfully traded cryptocurrency and amassed several thousand dollars for its owners. This extraordinary rodent maintained its own social media profiles and even live-streamed its trading sessions on Twitch.
An office-like setup was attached to Mr. Goxx's cage. Each morning, the hamster would spin a “wheel of fortune” to select which cryptocurrency it felt like trading. Adjacent to its “office floor” were two tunnels—one for buying and one for selling. Each time he scampered through a tunnel, connected electronics executed a trade in accordance with Mr. Goxx's “wishes.”
Viewers of the hamster's channel noted that Mr. Goxx's trading performance boasted an efficiency exceeding 20%, a benchmark better than many seasoned traders.
Unfortunately, his life was short-lived, but his legacy endures. Today, beginners who know little about trading strategies or analytics, yet miraculously manage to profit where seasoned professionals fail, are affectionately dubbed after this ingenious animal.
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