What Is Bitcoin “Golden Cross”

Bitcoin golden cross chart

Twitter and YouTube are suddenly full of Bitcoin investors excitedly talking about “The Golden Cross”. If you are wondering what all of the excitement is about, we will try to explain. In simple terms, the term “Golden Cross” when describing Bitcoin is when the Bitcoin/ US dollar 50 day moving average rises and crosses over the 200 day moving average of Bitcoin.

Investors are watching this closely because the last “Golden Cross” saw a jump of almost 200% in Bitcoin price over a period of just 2 months. The “Golden Cross”, however does not always result in price gains. You will also see reference to the “Death Cross” which is the opposite of the “Golden Cross”.

Virgin Galactic Takes Bitcoin

Virgin Galactic Bitcoin

Virgin Galactic is one of the leaders in Space Exploration and Travel. The brainchild of Richard Branson, Virgin Galactic has enjoyed increased media attention as the stock skyrockets.

Branson has announced that future space travel may be paid for with Bitcoin. The well known entrepreneur admits to investing in Bitcoin years ago. The Virgin Galactic Stock has increased in value almost 300% during the past 90 days. Perhaps space travel is the last frontier or maybe that better describes Bitcoin.

Steem Jumps Another 13% As Market Turns Green

steem price up

Steem Price Jumps 13%

Steem price jumped over 13% during the past 24 hours. The price of Steem rose to over 22 cents. The market overall enjoyed a bullish streak. EOS was up over 8%. Bitcoin broke the $10,000 barrier with a rise of over 4%. Cardano is also up over 4%. BAT which is used in the Brave Browser enjoyed an increase of over 14% reaching a price of over 29 cents.

Why is BAKKT Important to Crypto Investors?

BAKKT

Many in the crypto community looked forward to the creation of BAKKT for years. We all heard how the mere existence of BAKKT would flood the Bitcoin market with institutional investors. In simple terms, BAKKT is a platform that offers a regulated trading environment for Bitcoin and Bitcoin futures. The platform may be used through already well known exchanges, so some of the fear of the unknown of Bitcoin is alleviated.

While the effect of BAKKT came much slower than many would have liked. I do think we are seeing a mainstreaming of Bitcoin investment from traditional institutions that we would have not seen otherwise. Remember, only a few years ago many traditional financial institutions spoke of Bitcoin as some sort of dark money from the dark web bound to be used for illicit purposes. Think about how much that has changed in just a few years.

I like to take that thought a few steeps further and imagine altcoins enjoying the same attention that Bitcoin attracts. While that may seem unlikely now, I take heart in remembering that not so long ago Bitcoin was considered some sort of scam.

Coinbase and Google?

google coinbase

Coinbase has announced a new edition to their team. Surojit Chatterjee will join Coinbase as the new chief product officer. Chatterjee comes with an impressive resume including Vice President of Product for Google. Chatterjee played an active role in both Google shopping and Flipkart, a well known ecommerce site.

According to Chatterjee, the main focus will be to make cryptocurrency more mainstream.

As we see more and more top talent become involved with blockchain projects, it becomes clear that crypto is here to stay.

Bitcoin Price and the Coronavirus?

As Bitcoin prices broke the $9000 mark, Twitter was ripe with the usual speculation concerning the cause and effect of the recent increase in Bitcoin price.

Bitcoin Coronavirus

Some Twitter users even suggested that the outbreak of the Coronavirus in China may have caused the increase in Bitcoin price. While the price of cryptocurrency often rises during a period of crisis and uncertainty, I think the probable slowing of the Chinese economy due to the outbreak may actually have the opposite effect on the price of Bitcoin.

Bitpay Partners With Simplex Payment Processor

Bitpay payments

Bitpay has announced a partnership with Simplex, a payment processing company. The partnership will allow customers to purchase cryptocurrencies from fiat directly in the Bitpay app. The somewhat laborious transfer from fiat to Bitcoin has always been an impediment to new crypto investors. Even 2 years ago, a potential investor would have to buy Bitcoin at Coinbase incurring a fee and then transfer Bitcoin to an exchange which often charged another fee. Small investors were discouraged from investing because of all of the fees.

The ability to buy crypto from fiat in the Bitpay wallet should encourage small investors who may not have considered investing in blockchain before. Bitpay now supports several cryptocurrencies including Bitcoin, BitcoinCash and Etheruem. XRP was also added just a few weeks ago.

I would love to see Steem become available on some of these apps. I think we would attract more investors by having an easy entryway into Steem.

Binance May Limit Trading in Japan

Binance Japan

Binance has announced that they will limit access to traders in Japan. Binance was once headquartered in Japan , but moved their operations to Malta due to Japanese regulators. Binance also had headquarters in China before leaving for Japan.

The exchange has been forced to work around a constant change in regulations in order to operate in the ever changing cryptocurrency world. Binance assured their Japanese traders that the new regulations would be rolled out gradually in order to give traders time to adjust to the limited access and increased regulation.

Square Files Cryptocurrency Payment Patent

cryptopatents

The US Patent office issued a new patent on Tuesday which may attract more consumers to cryptocurrency. Square, the popular payment provider was issued a patent which will make crypto to fiat transactions without some of the negative aspects currently associated with these types of transactions. In essence, the technology will enable a consumer to pay in any currency they choose and the merchant will be paid in the asset they prefer. For instance, I will be able to use the payment system to pay with Bitcoin and the merchant can choose to accept that payment in dollars.

The benefit of the new technology is that the transactions will occur instantly so that the waiting time for both consumers and merchants is zero. This technology will eliminate some of the problems of using cryptocurrency including volatile crypto prices and slow transaction times.

As this type of technology becomes more available, I think we will see a huge surge in the number of people actually using crypto on a daily basis.