We are at the finish of the PrimeBit Demo Contest. However, you still can win your prize with some spectacular trades in the last five days of the competition. Everything is still open. With one or two well-timed deals with a maximum 1:200 leverage, you can quickly multiply your Contest Account deposit.
If you are looking to chase the leaders, we’ve got some good news for you. During the first two weeks of the Demo Contest, cryptocurrencies were on the rise. Since the beginning of the competition, the BTCUSDT price has risen more than 40%. Bitcoin almost touched the $16,000 line with a three-year maximum of $15,959 on Friday, November 6.
Since then, things have gotten even more interesting. At the moment, cryptocurrencies seem to be at the crossroads in the short term perspective. Even Bitcoin maximalists have to agree that a downturn before the end of this week is possible.
Looking at the 4-hours price chart, you can see signs of an ascending pattern suggesting the continuation of an upward trend initiated earlier this year. On the other hand, it is easy to recognize a double top pattern (1 and 2 at the chart below) with a neckline around $15,000, which may signal an upcoming downturn. As you can see, this may go either way, and it’s up to you to decide which scenario is more convincing.
Do forget that you can also trade ETHUSDT and LTCUSDT with your Contest account. Since the start of the competition, altcoins followed Bitcoin, but the main cryptocurrency outperformed them over the last three and a half weeks. Litecoin and Ethereum offered more volatility than Bitcoin though during the same timeframe. If you come across some crucial piece of news concerning any of the crypto networks, you can be the first to benefit from cryptocurrency price adjustments.
It’s up to you whether you want to go long or short on any of the cryptocurrencies. If you are new to trading, take a look at our basic trading tutorials:
- How to Recognize Cryptocurrency Price Trends?
- How to Read Japanese Candlestick Price Charts
- How to Trade Crypto Recognizing Chart Patterns
When you make up your mind on what’s your trading strategy, place your first trade. If you are new to our platform, read these short tutorials on how to make trades:
- The Easiest Way to Trade and Win PrimeBit Demo Contest (very basics)
- Win the PrimeBit Demo Contest by locking in profits and avoiding losses
PrimeBit Demo Contest is the perfect way to practice cryptocurrency trading and work out effective strategies. You don’t risk any personal funds. If you make the right decision, you can not only win prizes but repeat those trading ideas on your LIVE account and become a consistently profitable trader.
You simply have to give it a try. By the end of this week, when the Contest is over, we give away $5,000. We’d love to give one of the prizes to you.
At the moment, it’s enough to make a 30% profit to win a reward. It’s free money, and you should try to pick it up.