Rekt Definition | Forexpedia™ by BabyPips.com

REKT (or rekt) is a misspelling of “wrecked”.

“Getting rekt” refers to a cryptocurrency trader who is utterly ruined and destroyed due to losses from a recent price crash.

Rekt is what happens when crypto traders get swept up by FOMO and end up becoming the victim of a pump and dump. You get rekt.

For instance, let’s say you put more all of your savings on DOGE just after its price soared due to a tweet from Elon Musk.

One day later, the price of DOGE plummets to less than 50% of the previous day’s value because crypto whales decided to dump and you’re now a bag holder. In this scenario, you got REKT.

The slang term comes from the online gaming world where it means to “lose badly”.

Related Terms

Holder

A “holder” is an individual or entity that owns the securities or other assets in a portfolio or account.

Whale

A whale is a big holder of crypto, and usually have a substantial amount of capital. Basically, they’re rich. This is a term borrowed from casino gamblers For Bitcoin, anyone with more than 1,000...

Camarilla Pivot Points

Camarilla Pivot Points is a modified version of the classic Pivot Point. Camarilla Pivot Points were introduced in 1989 by Nick Scott, a successful bond trader. The basic idea behind Camarilla...

Expiry Date

An expiry date, also known as an expiration date, refers to a predetermined date on which a derivative contract ceases to exist.

Currency Option

A currency option is a contract through which a seller offers a buyer the right, but not the obligation, to purchase or sell a specific currency at a defined exchange rate on or before a fixed date. Currency options are financial derivatives. Its value is “derived” from the underlying asset. In this case, a specific […]