The BitCoin simulation allows you to experience a day of trading in crypto markets.

During the simulation, you will receive news about Bitcoin, a cryptocurrency traded on the SimTrade platform. You will be able to buy and sell Bitcoin. Note that Bitcoin is divisible and you can buy and sell portions of Bitcoin like 0.55 bitcoin.

Your goal is to maximize your trading gain at the end of the simulation.

At the start of the simulation, you own an account consisting of €50,0000 in cash and 2 Bitcoins. Given yesterday’s closing price of €25,101, the total value of your position is about €100,000.

The duration of the simulation is initially set to 5 minutes which corresponds to a 24-hour trading day.

You must complete the simulation for it to be valid for the experiment.

Bitcoin was first introduced in 2008 as a decentralized currency without the need for a central bank or any intermediaries. It can be sent to and from users via the bitcoin network, a peer-to-peer network in which transactions are authenticated by nodes and recorded on a blockchain.

The transactions of Bitcoin are hard to be reversed and faked based on the use of a distributed accounting ledger technology. Bitcoins are not backed by the government or any issuing institution, and there is nothing to guarantee their value besides the proof baked in the heart of the system.

Among asset classes, Bitcoin has one of the most volatile trading histories. Bitcoin had a price of zero when it was introduced in 2009. It witnessed strong gains and suffered equally rapid deceleration for several years. In 2017, Bitcoin's price hovered around $1,000 until it broke $2,000 in mid-May and then skyrocketed to $19,345.49 in December.

Mainstream investors, governments, economists, and scientists took notice, and other entities began developing cryptocurrencies to compete with Bitcoin. In 2020, the economy shut down due to the COVID-19 pandemic. Bitcoin's price burst into action once again. The pandemic shutdown and subsequent government policies fed investors' fears about the global economy and accelerated Bitcoin's rise. Bitcoin's price reached just under $29,000 in December 2020, increasing 416% from the start of that year.

Bitcoin prices reached new all-time highs of over $60,000 in 2021 as Coinbase, a cryptocurrency exchange, went public. When the emergence of a new variant of COVID-19 continued to spook investors recently, Bitcoin dropped below $23,000 for the first time since December 2020.

Bitcoin are currently priced at approximately €25,000.

Today is an important day for Bitcoin as market participants expect a lot of news.

The People’s Bank of China (PBOC) will declare a series of measures aimed at cryptocurrency transactions. Investors are very concerned whether the bitcoin will be banned or not in the Chinese market. The price of Bitcoin may be dramatically influenced by the attitude of the Chinese government.

Tesla should announce its new policy for bitcoin payments. Will Tesla accept or reject Bitcoin for car purchase?

The Federal Reserve will release a report on the crypto markets. According to the position of the Fed, it may be positive or negative for the Bitcoin market.

Finally, there is a continuous concern from investors about the security of crypto exchanges. The threat of cyber attacks represents high operational risk and undermines the confidence of investors in the market. How about the impact on market confidence and bitcoin price? The market price of cryptocurrencies regularly crashes after the announcement of cyber attacks. But Bitcoin, as a blockchain, has been particularly resilient. Despite operational risk, Bitcoin has also been continuously traded in various exchange platforms since 2010. Happy birthday Bitcoin!