Cryptocurrency enthusiast, trader and expert Ian King explains his fascination with these new digital currencies in an interview with Jeff Yastine. Banyan Hill Publishing has just found King to advise their readers on how to profit from cryptocurrencies. Banyan Hill will begin publishing a newsletter or trading service by King later this year.
In the interview, King explains how the idea first came to him after the financial crisis of 2008-2009, and especially when the Federal Reserve lowered interest rates to zero. That was a time that made many people question how central banks are running the economy. And in 2012, King checked out a company starting out in Silicon valley that wanted to introduce a form of cryptocurrency that central banks could issue as a form of digital, electronic money. That was not a form of cryptocurrency because it would still be based on the authority of the central bank issuing, but it made King thing about what would make for a workable form of digital cash.
He tells Yastine that every ten years, a new technology comes along that changes the world, advancing civilization and creating wealth for the people who invest in it. In the 1970s it was mainframe computers. In the 1980s, personal computers brought many benefits to ordinary people. The Internet became widely available in the 1990s. In the early 2000s, social media began to dominate the Internet. In this decade, the transformational technology is the blockchain. King says the use of blockchain technology to create cryptocurrencies is just beginning. Soon there will be new waves of investors looking to cash in. View more on Ian King at talkmarkets.com for more info.
When Yastine asked Ian King the provocative question of what he learned on Wall Street that helps make him successful in cryptocurrencies, King first replies that you’re only as good as your last trade. That means you cannot afford to rest on your record. You have to keep looking for new opportunities to profit.
Also, he learned that trader psychology remains the same no matter what asset class you’re trading. In his career he handled mortgage bonds, credit derivatives and stock equities, but the minds of traders function in the same way. At the time of the interview, cryptocurrencies were still booming, and Ian King says that reminds him of the late 1990s bull market in high tech stock, when young traders with no experience could make tens of thousands of dollars just by participating in the game. Check on this link to see updates: https://stocktwits.com/IanKing