Choppy Market? I am treating these Red Packet events like alpha right now

To be honest the market has been feeling really strange lately. It is not an uptrend and it is not a full breakdown either. The market is just stuck in this middle zone where most traders end up losing money trying to force trades that are not really there.

In situations like this I have started paying attention to Red Packet events and other community reward campaigns. These events do not depend on entries into the market.

Gate Squares Red Packet bonus event is an example of this. You are not really trading the market you are just getting rewards for being active on the platform while you wait for price action. If you post, engage with others and stay consistent you will get rewards. New users get a guaranteed bonus for their post and there are ongoing rewards in GT, ETH and other coins as well as vouchers depending on how active you are and where you are on the leaderboard.

From my perspective as a trader I actually like these kinds of setups in markets. This is because opportunity cost is important. If I am not seeing trading opportunities in Bitcoin or Ethereum I would rather be getting rewards for being active on the platform than trying to force trades that will just lose me money.

Course this is not really "free money" because you still have to put in time and effort.. When there are leaderboards people start competing with each other. The top rewards are where things get really competitive with some users trying hard to get to the higher tiers and bonuses. This is where being consistent is more important than participating randomly.

What I find interesting is how platforms are using this model, which is part social engagement, part reward system and part gamified trading ecosystem. I do not know if this will work in the term or if it is just a temporary thing.

For now though in a market I would rather get small rewards wherever I can instead of just sitting around or overtrading.

Are you treating these Red Packet events as alpha, in sideways markets or do you ignore them completely and just focus on the charts? 👇

#BTC #ETH #GT