Could PnL competitions lead traders to gain in this bear market?
Crypto traders may experience frustration during the bear market, but this does not always have to be the case. The good news is that there are plenty of chances in the crypto space that cushions the brunt of the bear market, which explains how some projects and exchanges are able to survive the challenging market conditions.
Since the volatility particularly in this market condition can be quite high, unstable PnL between trades is not uncommon. The ability of traders to reverse this situation through PnL competitions is encouraging given that they are compensated based on their PnL rankings.
In this context, I found Bitget's PnL competition to be one of those events where volatility tends to be used to traders' advantage while trading sizzling tokens like TRB, AMB, PEPE, Blur etc and staying top of PnL rankings
Would love to know your approach if contests like this is one of your strategies for surviving in this down market!
I guess this campaign is suited for real traders cos it will be a win win situation for them but like to know if copy trading is also included cos copying from those elite trader who trade those tokens could put someone in a better position to win a share of the prize pool
From my understanding, the event excludes copy trading, but you can explore the ongoing KCGI trading event cos that includes copy trading
Trading without much emphasis on volume of trade could an innovative way to earn via trading competition. Especially in the face of this uncertain market condition. Will certainly look forward to it