Wrecked
1. general
'Rekt' is a slang term derived from 'wrecked'. In the context of cryptocurrencies, it's used to describe a significant loss in value in a short period. This can occur due to market volatility, or when a trader's position (long or short) closes unexpectedly, resulting in a substantial loss.
1.1
"When Bitcoin's price dropped by 30% in a single day, many traders got rekt, especially those who had leveraged positions."
2. usage
The term 'rekt' is often used in online trading communities and social media platforms. It's used to describe situations where traders suffer significant losses due to sudden market movements.
2.1
"After the sudden market crash, social media was filled with posts of traders sharing how they got rekt."
3. prevention
To avoid getting 'rekt', traders are advised to use risk management strategies, such as setting stop-loss orders, diversifying their portfolio, and not investing more than they can afford to lose.
3.1
"To avoid getting rekt, always use a stop-loss order to limit potential losses and never invest more than you can afford to lose."
4. origin
The term 'rekt' originated from online gaming communities and was later adopted by the cryptocurrency community. It's a testament to the influence of internet culture on the language used in the crypto space.
4.1
"The term 'rekt', originally from online gaming, is now a common slang in the crypto community, illustrating the influence of internet culture on the language of this space."
* All terms and definitions may update as the Cryptionary improves.
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