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I'm looking at charts of bitcoin here: https://bitcoinwisdom.com/markets/kraken/btceur with the option of displaying a short term as well as a long term EMA.

It seems to me that if I were to buy bitcoin each time the short term EMA raises above the long term EMA, I would make money. I know this is obviously not the case since if it were, everyone would do it.

So in reality, what actually is the problem with these kind of simplistic strategies? The "strategy" seems to cover every relevant change in market price.

user18659
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The issue is that so as to the EMA crossing to work you need a perfect trend.

In case the underlying starts moving in a range you will start having multiple losing trades since the two EMA's will almost overlap...the commissions will kill you.

You can see this picture for an example

sen_saven
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This strategy used EMA crossing is a simple testing, It is only used to teach some new player to learn programmatic trading. But some times it also can make money. Although, it`s not a good strategy, because it can loss money too. So, it is just a test strategy to study if you interesting in this. You could watch this URL: https://www.botvs.com/strategy/12348.

A strategy only has 30 line code. It is Realizing the EMA, the MA and the AMA crossing.

LocalVolatility
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chao shi
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