Q&A with @CryptoTutor
1. Tell us about your background.
I’m CryptoTutor and I’ve studied Economics & Business in the past. I’ve my BSc in Economics and also did my Master of Sciences in Accountancy & Control. Mathematics and Statistics have always been of large interest to me, hence my love for charts and why I’ve been tutoring students now and then on these subjects (‘@CryptoTutor’). I’ve been active in several markets before crypto. For example, I had my own IT company before. The first time I heard about crypto, in 2013, bitcoin was trading below 100 USD. Even though it had kept me fascinating about it, I entered a few months later. My first crypto I bought wasn’t Bitcoin, but Litecoin (maybe because of the same reason why <1 USD coins are popular now, IDK ;p ). Since 2013, I’ve been learning and applying Technical Analysis, and found that it’s a must to detect certain trends and to maximize gains.
2. What did you do before crypto?
Already answered in question 1.
3. What your first year of crypto looked like?
My first year in crypto really was a lonely year. I didn’t know about the crypto-community on twitter back then (although I’m sure it was way smaller than it is now). I had an account on Bitcointalk on which I did some shitposting, but after a few posts that got bored as well. I would describe my trader-life as lonely, as I tend to make decisions alone. In crypto, I’ve always been alone. No one shilled me into crypto, and only a few people I knew believed in it. Most of my friends who are in crypto now, entered late 2017 (they got FOMO-ed). Also, the coins that were trading back then were way shadier than they’re now. I once lost >50% of my portfolio because of poor risk-management. I once sold all my DOGE (in 2014), to go into CoinyeCoin. It wasn’t nice waking up to a CoinyeCoin crash after Kanye West allegedly was going to sue the developer team behind CoinyeCoin.
4. Share with us something we don’t know about you.
Well, many people think that Cryptotutor is an old man with a white beard. But in fact, this is not true. I still have a black beard.
5. What are your top 3 favorite crypto by category/type? i.e, privacy, dapp, dex, … you choose the category.
Actually, I don’t have a top three of categories. Decentralized exchanges (DEX) are interesting to invest in 2018, but coins that provide privacy are also awesome. I trade coins when they look tasty and sell them on the way up. I do not really care about the category, as long as the coins remain profitable.
6. What coin you hold closest? Reasoning behind?
Bitcoin, as Bitcoin has always been the master / king of this market. However, if this would change in the future, I wouldn’t hesitate to dump it for the next market leader.
7. What is the CryptoTutor Trading Community?
My community is a trading group in which my colleague and I provide support to our members regarding their portfolios and trading strategies. Over the past years, I’ve been lucky enough to gain experience in these markets and how to behave in them. This helps me to provide content of higher quality for my clients.
8. What makes your community better than the rest?
I don’t think I can (and I should) compare my community with the others (and I also don’t know how they are from the inside). There are many other groups in which investors could find the support they’re looking for. From what I understood is that some investors/traders are active in more than 1 groups, to reduce their information asymmetry on the market as much as possible. So most of the groups (which are still standing) should be OK.
9. How will crypto dominance look like from now on to 2020? Will BTC crush alts or vice versa?
Bitcoin Dominance has been severely decreasing after having ranged between ~78% and 95% until March 2017. Compared to its low in March 2017, it made a lower low in January 2018. This strong decrease shows that since March 2017, the altcoin market started having a much stronger voice. I think BTC dominance will further decrease as more and more blockchain projects will be created over the coming years. However, there’s one scenario which I keep in mind where BTC gains back its dominance because of The Lightning Network being implemented and the blockchain projects that fail to deliver value will go to zero. When Bitcoin rises in price it doesn’t necessarily mean that it crashes altcoins. On the shortterm, it does. But when thinking about it on a larger timeframe… At this moment, Bitcoin is the key to get new money in the market that is needed for altcoins to do their moon launches.
10. How you come to the decision to enter a trade, example?
Depends on the trade. If it’s a lower timeframe trade (exiting it within the coming 24–48 hours), I would first need the technical to be correct. Is it on support? What trend has it been (on lower timeframes)? Is there any strong support or resistance nearby? Etc.
Fundamentals are important as well (as well as sentiment). Are there any catalysts coming up? If so? Is it legit/known? Is it significant? All these questions should be answered before entering a trade.
11. How you come to the decision to exit a trade, example?
Exit on the way up, so you don’t have to rush to your computer on the way down.
12. Who will be Ethereum legitimate contender?
From the several coins I know at this moment, I only see NEO competing Ethereum. However, the market is ‘new’ and I expect new coins or existing coins to rise in a way that they can become a serious contender for Ethereum.
13. Top 5 mistakes in crypto that will lose you shitload of money?
-Going all-in (no risk-management)
-Doing no research
-Chasing green candles during a bear trend on higher timeframes.
-Not selling on the way up OR not setting stop loss orders
-Following Twitter traders’ actions blindly.
You guys can't imagine how much I enjoy doing these Q&A’s, never get tired of learning from people that shed light on their “crypto-path”, their lives, and experiences. Many thanks @CryptoTutor for your time, you are truly respected.
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