An act of crypto currency market manipulation by crypto start-ups and others trying to make money from short sales in the crypto currency market.
Typically this is done in the form of social network posts which direct others to focus on a specific cryptocurrency or sell-off another crypto currency in order to raise the valuation of another.
The most common effect of Cryptobaiting is the loss of money by people who blindly and feverishly follow Cryptobaiting posts and invest in a crypto currency far to late in it's surge to make a profit by the time it has already fallen in price.
The individuals making the Cryptobaiting posts have of course already set the buys and valuations and sell their shares during the short valuation bumps they caused.
Cryptobaiting can also be a term used to represent the actions of a person who repeatedly falls for Crypto-Currency fraud.
Typically this is done in the form of social network posts which direct others to focus on a specific cryptocurrency or sell-off another crypto currency in order to raise the valuation of another.
The most common effect of Cryptobaiting is the loss of money by people who blindly and feverishly follow Cryptobaiting posts and invest in a crypto currency far to late in it's surge to make a profit by the time it has already fallen in price.
The individuals making the Cryptobaiting posts have of course already set the buys and valuations and sell their shares during the short valuation bumps they caused.
Cryptobaiting can also be a term used to represent the actions of a person who repeatedly falls for Crypto-Currency fraud.
by Mr. SnowmanPants February 18, 2021