What is the meaning of 'rengoku' in the context of cryptocurrency?

3 answers

• Crynadge KunakaAug 04, 2023 · 2 years ago
  Rengoku is a term used in the cryptocurrency industry to describe a situation where the price of a particular cryptocurrency remains stagnant or experiences very little movement over a period of time. It is often used to refer to a period of consolidation or lack of volatility in the market. This term is derived from the Japanese word 'rengoku', which means 'purgatory' or 'prison'. In the context of cryptocurrency, it signifies a state of price stability or a lack of significant price fluctuations. Investors and traders often use this term to describe a period of uncertainty or indecision in the market, where the price of a cryptocurrency is neither rising nor falling significantly. During a rengoku period, traders may adopt a wait-and-see approach, as they anticipate a breakout or a significant price movement in the near future.
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• Adesh MJan 28, 2021 · 4 years ago
  Ah, 'rengoku' in the context of cryptocurrency! It's like being stuck in a prison cell, but instead of bars, it's the price of a cryptocurrency that's not moving much. It's a term used to describe a period of price stability or consolidation in the market. Imagine the price of a cryptocurrency being trapped in a narrow range, neither going up nor down significantly. It's like being in purgatory, waiting for a breakout or a significant price movement. Traders and investors often use this term to describe a state of uncertainty or indecision in the market. During a rengoku period, traders may take a cautious approach and wait for clearer market signals before making any significant moves.
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• JOEL ROXJan 14, 2024 · 2 years ago
  In the context of cryptocurrency, 'rengoku' refers to a period of price stability or consolidation in the market. It is a term derived from the Japanese word for 'purgatory' or 'prison'. During a rengoku period, the price of a cryptocurrency remains relatively stagnant or experiences very little movement. This can be seen as a state of indecision or uncertainty in the market, where traders and investors are waiting for a breakout or a significant price movement. It is important to note that rengoku is a temporary phase and is often followed by a period of increased volatility. Traders may use various technical indicators and analysis to identify potential breakouts or trends during a rengoku period.
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