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Coinbase leaps towards “BUIDL” trademark

Priya

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Coinbase leaps towards "BUIDL" trademark
Source: Unsplash

Coinbase, one of the leading cryptocurrency exchange in the market, continues to make a buzz in the cryptocurrency space. This time, the exchange is in the limelight because of the term “BUIDL”.

BUIDL, is one of the common terms used in the cryptocurrency space, which refers to building real-world use cases. The term’s most common use phrase is “BUIDL, not HODL”, which is used by several cryptocurrency influencers. The other term used is “HODL” that stands for “Hold On for Dear Life”, referring to holding Bitcoin and other cryptocurrencies instead of selling them.

Coinbase has made a filing with the United States Patent and Trade Office [USPTO] with the intention of gaining the trademark for the popular term.

Coinbase filing with the USPTO | Source: USPTO

Coinbase filing with the USPTO | Source: USPTO

Francis Pouliot, a Cypherpunk maximalist says:

“Coinbase just filed to trademark BUIDL for software related to cryptocurrency. Pathetic’

Ameero, a Twitterati said:

“Seriously not the way to win over the crypto community. @coinbase Coinbase could have gained a lot more support from its customer base by listening to them. From segwit to BCH and now these IP chasing tactics #Buidl is for the people -“

Bryan Lerardi, another Twitterati said:



“Well, I suppose that’s one way to stop people from saying it.”

Recently, the company announced that they would be launching their own agency-only Over the Counter [OTC] trading platform. The reason for this step is revealed to be the demand from the customers. The OTC will be acting as a compliment to the exchange platform.

Additionally, reports point out that Coinbase has added PayPal as one of their options for fiat withdrawal services. The currencies supported for this services include US Dollars, Euro, and the British Pound. Along with this, it is also believed that the exchange will be offering this service free of charge.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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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