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Bybit Quest Bull Market Quiz Answers

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In this article, you’ll learn the Bybit Quest “Learn How To Prepare For The Bull Market” quiz answers to get 25 USDT.

Bybit Quest Bull Market Quiz Answers

Question: What is Bybit Discount Buy primarily designed for?

Answer: Purchasing BTC or ETH at a lower price than market value on a future settlement date

Question: What are the three crucial parameters of Bybit Discount Buy?

Answer: Purchase Price, Knockout Price, and Knockout APR

Question: In which scenario does Bybit Discount Buy become profitable?

Answer: When the Settlement Price falls between the Knockout Price and the Purchase Price

Question: How does Bybit Discount Buy differ from traditional crypto trading?

Answer: It allows locking in a lower price for future purchases or earning a yield

Question: What should be assessed to strategically use Bybit Discount Buy?

Answer: Only the current market price of the coin

Question: In the Knockout Scenario of Bybit Discount Buy, what do users receive if the Settlement Price surpasses the Knockout Price?

Answer: Their principal plus the APR in USDT

Question: What is a key consideration when evaluating whether to use Bybit Discount Buy?

Answer: The risk/reward ratio based on Purchase Price, Knockout Price, and Knockout APR

Question: What is the total supply of ORDI tokens, a fungible BRC-20 token?

Answer: 21 million

Question: Which BRC-20 token is technically the same as SATS (Ordinals) but represented in larger denominations?

Answer: 1000SATS (Ordinals)

Question: What is the main difference between BRC-20 tokens on the Bitcoin blockchain and ERC-20 tokens on the Ethereum blockchain?

Answer: BRC-20 tokens are mostly meme coins with limited intrinsic value, while ERC-20 tokens are used in various Ethereum DApps

Question: What is one of the key reasons for a bullish outlook on crypto in 2024?

Answer: Launch of a Bitcoin spot ETF

Question: What is the expected impact of the anticipated Bitcoin halving event in April 2024?

Answer: Make Bitcoin rarer and potentially more valuable

Question: How might the pausing of interest rate hikes by the Federal Reserve affect the crypto market?

Answer: Spark increased interest in riskier assets like cryptocurrencies

Question: What is the expected effect of Circle Internet Financial, LLC going public in 2024?

Answer: Increase regulatory scrutiny and market volatility for cryptocurrencies

Question: What is the main goal of Ethereum’s Dencun upgrade?

Answer: To make Ethereum’s network faster, more secure, and eco-friendly

Question: How do crypto events like Consensus and Devcon typically affect the industry?

Answer: They help make connections, learn new things, and develop new ideas

Question: What is the expected trend for institutional adoption of cryptocurrencies in 2024?

Answer: Increased adoption by large organizations

Question: What might be a consequence of new crypto regulations in 2024?

Answer: They could either help the industry grow or create barriers for users

Question: What is happening with NFTs and Web3 Ordinals in the crypto market as of 2024?

Answer: They are making a comeback, particularly on the Bitcoin network

Question: What is one of the recommended strategies to prepare for a potential crypto bull run in 2024?

Answer: Diversify investments across different types and strategies

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About the author

Lim How Wei

Lim How Wei is the founder of followchain.org, with 8+ years of experience in Social Media Marketing and 4+ years of experience as an active investor in stocks and cryptocurrencies. He has researched, tested, and written thousands of articles ranging from social media platforms to messaging apps.

Lim has been quoted and referenced by major publications and media companies like WikiHow, Fast Company, HuffPost, Vice, New York Post, The Conversation, and many others. One of his articles about the gig economy was quoted by Joe Rogan who hosts The Joe Rogan Experience (arguably the most popular podcast in the world), in the This Past Weekend podcast by Theo Von.

In his free time, Lim plays multiple games like Genshin Impact, League of Legends, Counter-Strike, Hearthstone, RuneScape, and many others. He creates guides, walkthroughs, solutions, and more on games that he plays to help other players with their progression.