Be careful the trader whales trap again and again ❗️
It sounds like you're warning about a common strategy used by large cryptocurrency traders, often referred to as "whales." These traders can manipulate the market due to their substantial holdings, creating traps to deceive smaller traders. They may use tactics like:
1. **Pump and Dump:** Driving up the price of a cryptocurrency to attract buyers and then selling off their large holdings to crash the price.
2. **Spoofing:** Placing large buy or sell orders to create a false sense of market direction and then canceling those orders before they are executed.
3. **Wash Trading:** Buying and selling the same asset to create misleading activity and artificially inflate trading volumes.
It's crucial to stay vigilant, conduct thorough research, and avoid making impulsive decisions based on sudden market movements that could be manipulative traps set by whales.