Cindicator X Gopax challenge: first week

Hosted together with GOPAX, a leading South Korean exchange, the exclusive challenge for Korean analysts started on 18 February. In this post, we want to briefly share the results of the first week.

The challenge kicked off with a meetup in Seoul for the Cindicator and GOPAX community. More than 50 people attended to learn more about the challenge and about crypto market forecasting in general.

In the GOPAX challenge, we ask South Korean analysts to make forecasts for digital asset prices by answering special questions created by our internal team of professional analysts.

In total, during the first week, the Cindicator team asked:

• 6 weekly price level questions (for BTC, ETH, XRP, EOS, QTUM, and Zilliqa);
• 6 conditional questions about Bitcoin short-term price trend;
• 11 price-level and single price questions;
• Questions about the crypto market cap and the BTC market share;
• 1 question about ranking the top assets.

The questions are not easy — only 13% of all registered participants finished the first week with a positive points balance. Among those who’ve made at least one forecast, 37% ended up with a positive balance. They are the ones competing for ₩8,000,000 prize fund. This also means that anybody who would join now still has a good chance of winning some prizes!

By Sunday night, only 6 questions were closed and scored, so the top position was shared by several participants. What’s remarkable is that just two of the leaders are our “veterans”:

• Jeyun Yu has joined last April and since made 2,585 forecasts with a remarkable accuracy of 66% for the crypto market and 68% for traditional assets (S&P500, gold and oil futures, stocks, etc);
• 스페셜 골드 is with us since December 2018 and has made 892 predictions with 65% accuracy for crypto and 66% for traditional assets.

Other analysts are new to Cindicator and have joined just before the GOPAX challenge:

• Dalgn has answered 40 questions with 63% accuracy for crypto and 73% for the traditional markets;
• 오정석 has made just six forecasts and so far 100% of those are correct!

Well done everyone! We’ll be in touch to send you some gifts to make that week memorable regardless of what’s ahead.

If you’ve been on the fence about joining the GOPAX challenge, now is the time to jump in. It only takes finishing with 1 point to grab part of the prize fund. And even more importantly, you will get real feedback about your analytical and market forecasting skills. Join here.

If you’re based outside South Korea, join one of our regular challenges — you still have time before the February competition ends!