What is REKT?
REKT is a slang term referring to heavy losses in a crypto investment.
Originally, REKT is slang for “wrecked”. At the same time, the slang is also made popular by gaming culture, and especially Tony Hawk’s high octane, stunt, arcade game with the same name. The game is popular for its awesome stunts, outstanding tricks, aerial flips, double flip, barrel rolls, and dangerous races. Additionally, the game has a competitive mode that includes a single-player game mode, 2 single-player game modes, and the multiplayer arena with an enjoyable competition with friends, and lots of endless challenges.
In cryptocurrency, REKT also has its meaning. Just like the dangerous races it represented in the game, the term represents a big loss in investment. Just as with other forms of investments, traders are faced with the endless challenges of finding the right investments. But when these investments go wrong, usually due to over-leveraging, then the investor, or trader in this case is rekt. The biggest challenge here is that crypto traders need a risk assessment process in order to take a controlled business risk.
Getting rekt in an investment, however, does not always mean a total loss of investment. It only means a huge dip at that point in time. As an instance, the price of bitcoin rekt in early 2018. Despite the bitcoin crash, by late 2020 bitcoin price soared to an all-time high on the bitcoin trading floor. As a point of reference, this shows that a rekt investment can always rebound over time.