The cryptocurrency industry, like any other narrowly focused specialty, includes a large number of different kinds of terminology. Many cryptocurrency terms are derived from English words. Some of them are intuitive even for beginners. For example, the term “High”, which means the top point of the asset price. Other terms are extremely specific and without special training you are unlikely to understand what is at stake.

However, there are also quite Russian-language terms that denote the players in the cryptocurrency market, but at the same time, you probably won’t immediately guess what they mean. These include: whales, bulls, bears, hamsters, sheep and pigs. Let’s take a closer look at what each of these “animal” terms means.

Cryptocurrency terms: who are the whales?

Whales are the biggest and most influential players in the cryptocurrency market. Whales are people who have a large percentage of the entire supply of a particular cryptocurrency.

A whale is not necessarily 1 person. It could be a company or organization, or just a mysterious address. The main condition is a very large number of coins.

They are so rich and powerful that if they wish, they can buy a huge amount of coins, thereby raising the rate. Or vice versa, sell all your coins and overturn the course several times. From this and the name, they are so big that, if they want, they can greatly stir up the waters of the cryptocurrency market with their actions.

Bulls and bull market

 

Bulls are people who buy one or another cryptocurrency and at the same time, in general, dominate the entire market. Inseparably with the term bull coexists the concept of “bull market”. A bull market is when the situation develops in such a way that the vast majority of market participants buy crypto assets. If bulls, and accordingly, a bullish trend dominates the market, then you can be sure that the price of various top cryptocurrencies will only increase.

As in the case of whales, the bulls were not so named in vain. Usually, bulls with their powerful and sharp horns, lowering their heads, try to literally pierce their opponent from the bottom up. Therefore, when the price of an asset goes from bottom to top, the market trend is bullish.

Who are the bears?

Bears are the main rivals of bulls. It can be said that they personify their opposite and people who, having gained favorable positions in this or that asset and having received a profit from it, are trying to sell it.

A bearish trend in the market begins if most people try to sell all their crypto assets.

During a fight with their rival, the bears try to hit him with a paw strike from top to bottom. Which is very similar to how different crypto assets get to local heights, and then fall down like a stone. As you can see, everything is extremely symbolic.

As a result, the trend or movement in the cryptocurrency market can be either bearish or bullish. This helps experienced traders understand whether it is worth investing in a particular asset now. Or is it better to wait for another, more favorable position for buying or selling a coin.

Cryptocurrency Terms: Hamsters

 

Hamsters are the most common type of people in the cryptocurrency market. Usually these are beginners who have a poor understanding of the cryptocurrency market, its laws, rules, and analytics. They try to buy everything at the highest price, they believe in rumors, they are very easy to deceive.

It is the hamsters who are the players who buy Bitcoin and other crypto assets at the very top. And then watch them fall down. Also, it is this type of market players who entrust their funds to dubious organizations, and then simply lose them.

This type of people is defenseless and harmless like a hamster. And anyone can deceive them and cash in on someone else’s inexperience.

In order not to be a hamster, you need not to panic when the market falls and not sell your assets. You need to look and analyze only trusted sources, trust no one and read a lot of articles and useful information in order to know more about the laws of the market.

Sheeps

 

Sheep are more experienced, but more cowardly and indecisive players than hamsters. They already know something and even know how, but they just watch the market movements. They are afraid to act.

Sometimes they can falsely put on a bear skin or bull horns and try to get some profit. But, as often happens, because of their indecision and inexperience, they are left with nothing.

Such people tremble and are afraid to do something, like a sheep at the sight of a wolf or a bear (an allegory for the merciless cryptocurrency market). This is where the comparison came from.

 Cryptocurrency terms: pigs

Cryptocurrency terms: pigs Photo: Sandy Millar / Unsplash.comCryptocurrency terms: pigs Photo: Sandy Millar / Unsplash.com

As for pigs, they are extremely greedy and careless people who, even after receiving a small profit, do not want to part with it. They think that a little more and they will get even more! And the amount of profit that previously seemed excellent to them is already considered insufficient. And in pursuit of profitability, they do not want to sell their assets to the last.

Naturally, such players often lose all their profits because of their greed, because, after taking off, it starts to go down sharply, and the pigs did not have time to fix at least some pleasant profit. 

Scammers

Another type of people in the cryptocurrency market is scammers. They build different machinations of deceit and in every possible way try to steal their funds from honest people.

Of course, this term does not apply to the animal world. However, I decided to include it here, since scammers are also a separate type of cryptocurrency market players. Like bulls, bears and hamsters, they perform their task. This task is very bad – to deceive people and steal their funds. There are so many of them that in their number they can compete with pigs, sheep and other living creatures in the cryptocurrency market. And this is a very sad statistic.

Therefore, when working with cryptocurrency, you need to be careful, like nowhere else. And don’t trust anyone with your money.

Who definitely shouldn’t be

 

As a result, in the cryptocurrency market there is not always an obvious terminology that everyone can understand. But now, having learned the new notation, you can easily understand the dialogues of other people, recommendations and analytics of experienced traders.

You do not have to identify yourself with any of the types of players in the crypto market. Just remember to have experience, strength, confidence and no greed. Then your funds will