My experience of forecasting on Cindicator App - month 4
Cindicator is a tool built on ethereum blockchain that provides analytical tools to better trade cryptocurrency markets. According to the website, its a decentralised pool of analysts that provide predictive tools for trading. I have not yet used their paid services for cryptocurrency investing. What I have done over the last few months is use their Android App to input my forecasts for cryptocurrency and traditional markets.
Every month, the app tests your accuracy and awards you points for your answers, and depending on where you finish amongst all the analysts forecasting on the app, you are rewarded with eth, sent straight to your wallet. I do a monthly update of my performance and this is month 4, also the best month for me in terms of rewards.
This month was a rollercoaster ride for me. I started off at #300 at the end of week1 with almost 50% accuracy and that means, a coin toss would have achieved the same result. However by the end of it, i finished at #23 in crypto markets and #105 in traditional markets.
Crypto rank was the best for me in 4 months. My accuracy was about 60%, not bad but my worst accuracy in 4 months. I got a lot of points on forecasting weekly range for various cryptos in USD and BTC terms. The bulk of the points were gained in this newly introduced open questions, where one has to write an opinion about an ongoing project, for eg. Vault12. The accuracy was lost in answering questions such as 'will btc trade 10% higher from current level in 1 week'. Luckily i kept my probability low, so points lost weren't too much. Accuracy did suffer as a result though.
The story was the complete opposite in traditional markets. This is the first month, i have dropped below rank 100, i finished at #105. However, i was able to rise from a sub 250 rank to rank 100 in 3 weeks, which was something positive. Trump and trade war, ruined my forecasts about daily trading range of euro and pound. However, i did manage to get some big points on earnings expectations at the end of the month. Accuracy was just shy of 80% and fairly consistent.
A bit about cindicator: content taken from my previous post -
The App is fairly easy to use and I have been using it for 4 months. It has two sections - cryptocurrency and traditional markets. Every day the App asks you to answer some basic questions (daily range, weekly range, will x or y event happen, and open written questions) and at the end of the month, based on the answers given, it compiles a ranking of all analysts, based on points earned, and gives away 1.25 BTC and $7500 in prize money to all the people, amount being decided based on your rank. The ranking is updated daily and the payouts are done in ETH, sent to the ethereum wallet address you provide them.
Guys, its a fun tool to assess yourself and i do think it helps improve the understanding of the market. Plus since there isnt much to lose and only something to gain at the end of it, i recommend you to try it out.
super cool. Ive been looking for something like this to test myself without actually getting too involved.
Yeah, its pretty neat. Its definitely helped me form short term views on traditional financial markets. Veru helpful.