Nik Patel is the author of Altcoin Traders Handbook. We had the honour to do a brief Q&A interview with Nik. Nik is an active altcoin trader as well as an investor in blockchain and bitcoins. Here it is!
Thanks for taking the time to do this quick Q&A. Means a lot!
1. Could you tell us a little bit about yourself and what you’re working on?
No worries at all. I’m a full-time trader, investor, writer and all-round crypto degenerate. I’ve just recently published a book on altcoin speculation, titled ‘An Altcoin Trader’s Handbook’.
2. Crypto prices tanked lately, what are your thoughts on that? Do you think it’ll recover?
I think the current bear market is a well-needed one. Bitcoin moved from $800 to $20,000 in less than 12 months. Exponential growth is unsustainable without periods like this current one. It’ll most definitely recover and go beyond the highs of Dec ’17/Jan ’18.
3. There are a lot of products out there related to crypto nowadays. As an experienced crypto person yourself, what more type of products would you like to see people build?
I don’t personally feel the need for any more crypto-related products. Perhaps some more competition for charting platforms with an even greater range of exchange support.
4. What do you think the future is for blockchain technology?
World domination. Well, maybe not domination; coalescence, perhaps. I think the digital world will become even more inextricable from the real world as the years go on, with blockchain technology forming just one component of that relationship, albeit a significant one.
5. Do you invest in crypto yourself? If so, what are your most favorite coins?
All the time – it’s my job. I don’t offer coin picks, sorry!
6. Do you believe that altcoins and ICOs are still worth an investment? Why?
ICOs, not so much. I’m not very interested in ICOs, and I think the ICO bubble still has a long way to go before prices become attractive enough for investment. Altcoins, however, are at historical lows, consolidating around areas of long-term support. This is the perfect time to begin scaling into fundamentally-sound altcoins.
7. What are some of your most favorite crypto apps?
Delta, the portfolio tracker! It’s super useful.
8. Do you have any advice for people looking to get started in crypto?
Start with what you can afford to lose and nothing more. Learn risk management before anything else.
9. What’s the best way for people to contact you?
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