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In financial circles, a bagholder expression means to be left holding the bag, a term which itself dates to the 18th century, meaning to be swindled.

In finance, a bagholder is a person on the wrong side of a transaction after all the smart money has left. In the cryptocurrency space, the bagholder is the person who buys doomed altcoins in expectation of a big win, but after his/her spending spree the exchange rate drops and he/she is waiting until the rate goes up again to sell his/her coins.