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Following the recent price spike, there’s a lack of clarity as to where crypto markets will be heading from here. The importance of accurate predictions has never been more valuable to the cryptoconomy. A platform called Sparkprofit combines forecasts made by traders to produce a crowdsourced estimate of the future market movements.
Also read: Try Crypto Trading With Sim Games Like Altcoin Fantasy
Learn How to Trade by Guessing Market Movements
Sparkprofit allows active traders and ordinary enthusiasts to make predictions about the markets of major commodities like gold, oil and natural gas, indices such as Dow Jones, Dax and Nikkei, forex pairs of major fiat currencies and the future prices of several leading cryptocurrencies by market capitalization.
Participants can check how good they are at estimating the next price move and learn how to trade digital assets in the process. Using real historical market data for reference, they can set a price range up and down from the current levels. If the market reaches the target, they are rewarded with points. When it touches the loss price, they lose points.
Traders can make as many predictions as they like and the points they earn for their successful guesses are accumulated. Players with high scores are rewarded for their results each week. They can cash out using several fiat payment methods including bitcoin core. According to the platform’s website, residents of 200 countries take part in the prediction game.
Sparkprofit is an online platform and traders can access it directly in their browsers. It’s also available as a mobile application in both the iOS and Google Play stores. The game requires registration which is free of charge and the website offers a tutorial to help newbies understand the basics before they make their first prediction.
Do you think platforms like Sparkprofit can produce accurate market predictions? Tell us in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to the mentioned companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Images courtesy of Shutterstock, Sparkprofit.
At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.