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Bitcoin [BTC] related Coinbase study indicates an upcoming boost in cryptocurrency adoption

Priyamvada Singh

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Bitcoin [BTC] related Coinbase study indicates an upcoming boost in cryptocurrency adoption
Source: Pixabay

On 28th August, Coinbase, one of the leading cryptocurrency platforms in the world conducted a study on the scope of higher education in blockchain and cryptocurrency. The report reveals the elevating interest of the student population in the courses based on cryptocurrency and blockchain.

In the process of finding the statistics on higher education involving blockchain, Coinbase also ended up with data. For instance, students pursuing a major in a wide range of courses were observed to be inclined towards the industry and its integration in academics. This has led to the universities adding blockchain as a part of the studies in several departments.

This is not the first time that the student population is signaling the growth of a new idea. During the time when Facebook was still forming to be what it is today, it was the youth that was welcomed to experiment with the platform and slowly brought the social media platform to a widespread adoption.

The platform was able to conduct this survey by partnering with Qriously. Furthermore, a research conducted by Qriously assisted Coinbase in conducting its own research. In the study performed by Qriously, 675 US students were included in the survey. The survey thoroughly reviewed 50 international universities for its courses. The last straw of this study was fetching information through the interviews with students and professors.

Despite the research and the positive outcome, earlier this month, the Chief Executive Officer of Coinbase, Brian Armstrong stated that the commercial adoption of Bitcoin could take a fair amount of time.

Cornell University, situated in New York, is currently offering the maximum number of courses, including cryptocurrency, blockchain and cryptography. Regarding courses offered by Cornell, Coinbase also wrote in its research:



“The 28 courses include “Anthropology of Money” and “Introduction to Blockchains, Cryptocurrencies, and Smart Contracts,” which covers the cryptocurrency bitcoin and “the technological landscape it has inspired and catalyzed,” according to the course description”

The study has also pulled out some of the other significant conclusions. According to Coinbase, at least one class on blockchain and related subjects is offered by the 42% of the top 50 universities in the world.

One of the biggest universities, Stanford set up its Center for Blockchain Research just this summer. A professor of computer science and electrical engineering, Dan Boneh stated that spending time with new teams helps him in gathering new ideas and subjects for research. He also said:

“There are new technical questions being raised by blockchain projects that we would not work on otherwise.”





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Analysis

Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market

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Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market
Source: Pixabay

Bitcoin’s much-awaited Golden Cross, which many analysts claimed will lead to a resurgence of a bullish market, has been confirmed. The intersection of the 200-day moving average and 50-day moving average, which indicates the Golden Cross, was achieved over the past few hours.

Earlier today, the top cryptocurrency saw a massive rise after days of sideways movement. Bitcoin’s ascendance saw it break the $5,350 resistance level, which eToro’s Mati Greenspan had previously suggested will consolidate “buying pressure.”

Source: TradingView

Additionally, a major psychological level of $5,500 was also surpassed less than three weeks after Bitcoin broke the $5,000 mark.

The Golden Cross theory holds credibility among analysts in the cryptocurrency realm as it infers that the coin’s average price is above its 200-day equivalent. For the first time in over a year, the cryptocurrency market has seen its 50-day MA move above the 200-day MA, which according to many is a sign of a bullish market.

On the opposing side of the Golden Cross indicator is the Death Cross, where two indicators cross over into a bearish market i.e. the 200-day MA moves above the 50-day MA. The Death Cross manifested in April 2018, after the prices went into a free fall following the December 2017 high.

In April 2018, BTC was priced at just over $7,000, following which it lost more than 50 percent of its price by the end of the year. The price of the king coin has recovered exceedingly well in 2019 however, winning back almost 50 percent of its lost value.

Many analysts, including Greenspan, agree that the crossing of the two moving averages is a clear testament to the return of the bull market. Although he didn’t quite use those words, Greenspan tweeted,

“Ladies & Gents… The Golden Cross!
Bitcoin’s 50-day moving average (gold) crossing above her 200-day moving average (blue). 📈
This is yet another sign that we’re back in a🐂market. 🚀🌛”

However, in an exclusive interview with AMBCrypto last week, Greenspan had stated that the Golden Cross theory is a “lagging indicator,” as the Death Cross was last seen in April 2018, months after the market took a bearish turn.



In his view, the 200-day moving average is the key indicator. On April 2, Bitcoin broke this mark for the first time since March 2018, by recording a massive 17 percent daily gain and rising above $5,000.

Based on historic price changes with reference to the Golden Cross, the last time the 50-day MA soared above the 200-day MA, price of Bitcoin rose by over 8000 percent from $246 in October 2015 to almost $20,000 in December 2017. Given past market movements, the current market scenario, and the optimism in the air, the Golden Cross may just have initiated the Bitcoin bull market.





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