Bitcoin price has gone to the highest level since January 2018. Currently, it is close to the $16,000 resistance level. Reaching an all-time high at $20,000 becomes more likely every day.
The best PrimeBit traders are riding the wave. The leader of this week’s Demo Contest made over 2600% profit with a single deal.
Just when the PrimeBit Demo Contest began, Bitcoin started rallying on the news of PayPal, the world’s largest online payment system, finally opening-up to cryptocurrencies. This week’s unrest was caused by the US Elections and announced further European lockdowns added fuel to uncertainty. At the time of writing this post, the Trump-Biden battle is still a political deadlock.
Although the Democratic candidate has a substantial advantage, the polls are still being counted, and the current president has already filed suits in three states. It seems clear that he’s going to contest the election outcome. Clearly, the uncertainty around the US presidential election and the future of the biggest European economies support the boost of cryptocurrency prices.
How this Week’s Leaders Got on the Top
The 3rd round Demo Contest leaders have separated themselves from the pack. The top three accounts have made 2614%, 879%, and 737% return on investment (ROI). Let’s take a look at their best trades this week.
The leader – account no. 368496 – is trading BTCUSDT with a 1:200 leverage. The trader opened a large 62-contracts long position on Bitcoin at $13,422 with a series of deals made on Tuesday morning, November 3. The leader sold one of the contracts at 15831, which resulted in a $2,400 profit. With BTCUSDT soaring to $15,600, the remaining position of 61 contracts is now worth almost $134,000 and secures a place in the top 20 of the Global Ranking as well.
In the chart below, you can see that this position was opened with perfect timing. The biggest challenge now is to close it at the right moment.
The runner-up – account no. 367974 – also uses the maximum leverage, which seems to be the winning strategy in our Demo Contest. The trader joined the competition on November 1 and made the first deal on November 3, buying 22 BTCUSD contracts at $13532.5 with similar timing as the ranking’s leader. At the moment, the position yields over $45,700 in profit.
The third place holder – account no. 364957 – has been trading BTCUSDT, LTCUSDT, and ETHUSDT contracts since the beginning of the competition. The trader started the game on October 20 with several small long positions on all three crypto markets. After that, this participant decided to place a significant deal buying 30 BTCUSDT contracts at 10:30 a.m. on November 3, followed by a further position increase of 10 BTCUSDT contracts at 8:18 a.m. on November 5. This account holder keeps all the positions open, which gives a floating profit of over $77,000 now.
Remember, we give prizes to the top 10 competitors each week. The 10th place at the moment has just 172% ROI. You can beat it with one well-timed trade.
Everyone still can get a prize form the main prize pool
In the Global Ranking, we can watch a close fight for first place and a $1,000 reward. All top five accounts have over 5000% profit now.
Although the global leader’s massive 12797% ROI may seem intimidating, everything can change during the competition’s final week. Remember that we will give real money to the top 50 traders. At the moment, you need a 418% ROI to join Global Ranking winners.
Let’s face facts: one or two great trades can give profits of over 300%. That’s why you should give yourself a chance to win the Weekly and Global Rewards. Our total prize pool is $5,000. Go to PrimeBit WebTrader, switch to the Contest Account, and make the right trade now. If you have already taken your shot, tell your friends to join our contest. They will get fresh 5,000USDT to trade and a great chance of winning real money. Good luck!