What is Tank?

Back to Glossary

Tank is a popular term commonly used in mainstream media to describe a sudden and significant price dip of a particular crypto asset or the crypto markets in general. It typically refers to a negative performance of a financial asset (stocks, commodities or cryptocurrency).

Rally(ing) vs Tank(ing)

Similar to pump(ing) and dump(ing), a crypto asset (like Bitcoin and Ethereum) is said to be rallying when there is a sudden and continuous increase in price for a period of time. An entire market could be said to be rallying as well, simply indicating that most assets are on the rise, usually due to a generally shared optimism amongst investors.

On the other hand, a market is said to be tanking when most of its assets are simultaneously experiencing a sharp and continuous drop in prices. A single asset could also tank or be “in the tank” for a period of time. An asset or market is said to be “in the tank” if its price remains at a low or continue to drop for an extended period, usually due to strong pessimism amongst investors.

The cryptocurrency market is highly responsive to speculative media and whale manipulations; hence, rallying and tanking episodes are more common than in traditional financial markets.

Ready to spend crypto like real money?
Our new app is almost ready!

Don’t miss the launch of the CryptoWallet app – enter your email below so we can let you know it’s ready

Let's stay in touch

Do you earn money in crypto?
Take our survey!

CryptoWallet is creating a crypto card that allows you to spend crypto simply. Answer only 4 questions to help us make the best crypto card for you!

The survey is anonymous. We appreciate your help!