This was a groundbreaking week for the world and the crypto market. We experienced the closer than expected US presidential elections, several days of suspense, and counting of the mail-in ballots.
Finally, the challenger Joe Biden was declared the winner, but the incumbent president Donald Trump started a legal battle in several swing states, which suggests it may not be all over yet.
All the uncertainty fueled cryptocurrency markets. BTCUSD crashed the $15,000 limit on Thursday (1), nearly touched the next resistance with the week’s high at $15,973.5 on Friday, and then it experienced a steep price drop down to $14,354.50 on Saturday (2).
At the moment BTCUSD is trading around $15,500. This week it may rise to $16,000, signaling the end of price correction or extend the retracement down to $14,000. Whichever way it will go, it’s going to be an exciting week for cryptocurrency traders.
Win the 4th round
The final stage of the PrimeBit Demo Contest has just begun. For the last time, we have reset the weekly ranking. Ten best traders get a reward from the $1,500 side prize pool.
The top three accounts of the last Weekly Ranking had an impressive return on investment (ROI) of 2515%, 1769%, and 844%.
The key to win was to enter the bull market early and exit at the right time. In the last post, I showed you how this week’s leader made it by opening just one well-timed long position.
Each week we give away prizes to the 10 best participants. Last week it was enough to record a 324.8% to secure the top spot. Congratulations to all winners!
Global ranking
The fight at the top of the Global Ranking is getting interesting. The best trader will get $1,500 paid in tether. The current leader has an exceptional ROI of 9501%, but at least the other three account holders are very close. Remember that on PrimeBit, you can trade with an up to 1:200 leverage. It means that one well-timed trading idea can boost your profit and get you to the top quite easily.
We give away prizes to the 50 best accounts in the Global Ranking. At the moment it’s enough to make a 418% ROI to win the reward.
At the moment, Bitcoin might be experiencing a local retracement or a downtrend. It’s up to you to decide whether you are long or short on BTCUSD, ETHUSD, or LTCUSD, but you need to give it a try. Don’t miss out on the opportunity to win the final round of the competition and boost your position in the Global Ranking. You have nothing to lose. Give yourself a chance!
Go to PrimeBit WebTrader: https://app.primebit.com/sign-in