BTC to the Moon? Predict and Earn!
In May 2020, Cindicator created a strategy based on decentralized analysts that were consistently more accurate than the general public – SuperForecasters. Consequently, the strategy proved its value and significantly outperformed Bitcoin during several market cycles.
This time, we are launching a new contest at our Collective Intelligence platform – SuperForecasters Leagues!
How It Works
The contest has the following goals:
- Financially motivate the best forecasters who provide value through prioritizing quality over quantity
- Provide a framework for examining user’s analytical skills aligned with an actual trading
- Introduce a transparent and insightful competition where users can compare their predictions between themselves
Rules
The contest commences on Sunday, June 12, and is held weekly on an ongoing basis.*
How To Participate
All you need to participate is to predict Bitcoin’s min and max price levels (the poll goes live every Sunday from 00:00 UTC to 15:00 UTC). Here’s an example of the previous question.
Once you submit your forecast, you will be assigned to the leagues. Your league depends on the total number of answers to Bitcoin’s minimum and maximum price levels weekly questions. You can also be part of several leagues at once if you satisfy the conditions.
What Are Leagues
The contest has three leagues: weekly league, monthly league, and premier league. Your rank depends on the number of answers for weekly Bitcoin questions throughout the entire history of forecasting on the Cindicator app.
Weekly League
A user becomes a member of this league if they make a prediction by answering a weekly Bitcoin question. Users’ performances are calculated based only on the last question. The top 10 participants by pnl earn $5 every week.
Monthly League
A user becomes a member of this league if they make forecasts for four consecutive weeks. Users' performances are calculated based on the last 4 answers for weekly Bitcoin questions.The top 10 participants by pnl earn $10 every week.
Premier League
A user needs to have at least 13 answers for weekly Bitcoin questions to get into the Premier League. Users' performances are calculated based on all answers for weekly BTC questions that this league's users gave. The top 10 participants by pnl earn $20 every week.
Additionally, we ask top 10 participants to reveal their view on the future development of the BTC and pay $5 for a well-reasoned answer.
Remember, In SuperForecasters Leagues, performance is all that matters.
The Cindicator team applies a strategy to every forecast that converts participants’ min and max values into entry and exit points for long and short trades with a 1:2 risk/reward ratio.
Here is a question to illustrate the strategy:
“What will be the minimum and the maximum price of BTC/USDT from 12:00 AM UTC on Monday, May 16 until 12:00 AM UTC on Monday, May 22?”
In this case, if the participant answered 28,700 USDT for min price and 31’300 USDT for max value for the next week, the strategy will convert these values into entry and exit points for long and short trades as follows:
Long entry level - 28,700
Long take-profit level = 30,000 (Formula: min price + (max price - min price)*0.5)
Long stop-loss level = 28,050 (Formula: min price - (max price - min price)*0.25)
Short entry level - 31,300
Short take-profit level = 30,000 (Formula: max price - (max price - min price)*0.5)
Short stop-loss level = 31,950 (Formula: max price + (max price - min price)*0.25)
Let’s take a look at the chart and see how user’s trades play out:
Results and competition
Every Monday, Cindicator assesses the answers and provides performance stats for all participants via email. Users will see their “virtual” trades, pnl, as long as the results of others. Additional info will give insights regarding their forecasting history.
The top 10 analysts in every league will receive weekly rewards in CND tokens. Rewards are transferred to ERC-20 wallets at the end of the month.
Not an analyst? Join Cindicator’s Collective Intelligence Platform and try your hand at forecasting, whether newcomer or pro. We offer zero risk and a chance to earn and learn!
*Cindicator has a right to terminate this contest at any time.