What happens during CTC?

Could you elaborate on the process and key events that occur during a cryptocurrency Trading Competition (CTC)? I'm particularly interested in how traders engage, what strategies they employ, and how the competition is structured. Does it involve real-world market simulations, or is it more theoretical? Are there any prizes or incentives for top performers? Furthermore, how do participants handle the pressure of competing against others in a high-stakes environment? I'd like to have a better understanding of the dynamics and excitement surrounding a CTC.