📚Glossary

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API

API stands for Application Programming Interface. It is a set of routines, protocols, and tools for building software applications. APIs specify how software components should interact, such as what data to use and what actions should be taken. It is thanks to the API's that you will be able to connect your wallets on the exchanges to UpBots.

ADDRESS

A place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers.

Algorithm

A process or set of rules to be followed in problem-solving or calculation operations, usually by a computer. For UpBots, these are rules used to define an entry point and an exit point for strategies.

All-Time-High (ATH)

The highest point (in price, in market capitalization) that a cryptocurrency has been in history. *see All-Time-Low (ATL).

All-Time-Low (ATL)

The lowest point (in price, in market capitalization) that a cryptocurrency has been in history. *see All-Time-High (ATH).

Altcoin

As Bitcoin is the first cryptocurrency that captured the world’s imagination, all other coins were subsequently termed “altcoins,” as in “alternative coins.”

Arbitrage

Arbitrage is the practice of quickly buying and selling the same asset in different markets to take advantage of price differences between the markets.

Ask Price

In any financial market, buyers and sellers place their orders to determine the highest price they are willing to buy and the lowest price they are willing to sell. The buyers place “bids" and sellers place "asks," or offers to sell. If a "bid" is higher than an "ask," a trade occurs, as the buyer is willing to pay more than what the seller wants. At any given point in time, the lowest ask order that is unmatched becomes the "Ask Price" of the market.

Automated Market Maker (AMM)

An automated market maker (AMM) is a system that provides liquidity to the exchange it operates in through automated trading.

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Bag

A significant quantity of a specific cryptocurrency is considered a “bag.” How many depends on the definition of the person using the expression. *see Bagholder.

Bagholder

A person who holds large quantities, or bags, of a cryptocurrency. Often used to describe such a person when the price of that cryptocurrency is declining.

Bear

A person who is pessimistic about market prices and expects them to decline. This person is also known to be "bearish" about the market or price. *see Bull.

Bear Trap

A technique played by a group of traders, aimed at manipulating the price of a cryptocurrency. The bear trap is set by selling a large amount of the same cryptocurrency at the same time, fooling the market into thinking there is an upcoming price decline. In response, other traders sell their assets, further driving the price down. Those who set the trap then release it, buying back their assets at a lower price. The price then rebounds, allowing them to make a profit.

Block

A container or collection of transactions occurring every time period on a blockchain.

Blockchain

A blockchain is a continuously growing, append-only, list of records called blocks, which are linked and secured using cryptography.

Bollinger Band

A tool developed by Bollinger to help in the recognition of systemic pattern recognition in prices; it is a band that is plotted two standard deviations away from the simple moving average, or exponential moving average in some cases.

Bots

Automated trading software bots that execute trade orders extremely quickly, based on a preset algorithm of buy-and-sell rules.

An algo is defined by the specifics settings imposed by the strategy and the bot will execute the orders sent by the algo.

Bull

A person that is optimistic and confident that market prices will increase, this person is also known to be "bullish" about the market or price.

Bull Trap

A bull trap occurs when a steadily declining asset appears to reverse and go upward, but soon resumes its downward trend.

Burned (burning of cryptos)

Cryptocurrency tokens or coins are burned when they are permanently removed from the circulating supply on purpose — as opposed to assets that are lost on accident, like by being unintentionally sent to an address with no owner or via the loss of access to the wallet where they are stored.

Token burning is usually performed by the development team behind a particular cryptocurrency asset. It can be done in several ways, most commonly by sending the coins to a so-called “eater address”: its current balance is publicly visible on the blockchain, but access to its contents is unavailable to anyone.

The practice of burning may involve the project’s developers buying tokens back from the market or burning parts of the supply already available to them.

Burning can be done with different goals in mind, but most often it is used for deflationary purposes: the decrease in the circulating supply tends to drive an asset’s price upward, incentivizing traders and investors to get involved.

Buy Wall

A buy wall is a disproportionately large buy limit order placed on a cryptocurrency exchange.

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Candlesticks

A candlestick chart is a graphing technique used to show changes in price over time. Each candle provides 4 points of information opening price, closing price, high, and low. Also known as “candles” for short.

Centralized

A centralized organizational structure is one in which a single node or a small number of them are in control of an entire network.

Centralized Exchange (CEX)

Centralized exchanges (CEXs) are a type of cryptocurrency exchange that is operated by a company that owns it in a centralized manner.

Circulating Supply

The best approximation of the number of coins that are circulating in the market and in the general public’s hands.

Close

Refers to the closing price; similar to the same term used in stock trading.

Coin

A coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency.

Cold Storage

Offline storage of cryptocurrencies, typically involving hardware non-custodial wallets, USBs, offline computers, or paper wallets.

Cold Wallet

A cryptocurrency wallet that is in cold storage, i.e. not connected to the internet.

Consensus

Consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain.

Cryptocurrency

Cryptocurrencies are digital currencies that use cryptographic technologies to secure their operations.

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