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Bitcoin [BTC] ventures into real estate, Ruden Holdings aims for a first

Akash Anand

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Bitcoin [BTC] ventures into real estate, Ruden Holdings aims for a first
Source: Unsplash

On 4th September, it was revealed that Bitcoin [BTC] had entered into the realm of real estate, with Ruden Holdings, a Japanese real estate company announcing its trials with its “Bitcoin-based virtual currency real estate settlement platform.”

With the arrival of the cryptocurrency into a field as mainstream as real estate, proponents of Bitcoin have revealed that it is a step in the right direction. Ruden Holdings has also stated that the entire experiment of linking Bitcoin with real estate was done in collaboration with Blockchain Global Limited, a blockchain company aimed to make transactions more secure and transparent.

The experiment also involved Bitflyer, a famous cryptocurrency exchange and Japan’s largest cryptocurrency exchange by volume. The reports released by Ruden Holdings also showed that some parts of the framework used the NEM test network. NEM has been doing the rounds more and more often right now, especially with the media push it received after its tie-up with Petro, a cryptocurrency that is being linked to the Venezuelan Bolivar.

The report released by the company gave a breakdown of the processes that users need to follow to conduct transactions. Ruden has pointed out that the buyer can choose a property from the listing on the website and transfer the required amount in Bitcoin to the Ruden’s Virtual currency account.

They have stated that as soon as the transfer is complete, the company will convert the Bitcoin to Japanese Yen and complete the transaction. Officials from the company said:



“As soon as Ruden (system) confirms the remittance of the virtual currency, we will execute the contract and [convert the] virtual currency to Japanese yen. In addition, a notarized sale [and] purchase agreement is promptly shared with [the] buyer and seller.”

The reports have also shown that the new method has a lot of advantages over the traditional way of conducting transactions related to real estate. One of the major advantages stated by the company is how the usage of Bitcoin and smart contracts has drastically reduced the time required in completing deals. This ranges from the first click on the property listing to the final transfer of the Yen. Ruden went on to say that:

“It is not only to improve the efficiency of operations, but also to prevent unforeseen circumstances.”

The company has also stated that the model which was only applied in Japan, will be launching in cryptocurrency friendly countries soon.





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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.

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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