Day: December 12, 2023

Bitcoin dev denies adding inscriptions to National Vulnerability Database

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Bitcoin core developer Luke Dashjr has denied playing any part in adding Bitcoin inscriptions as a cybersecurity risk on the United States National Vulnerability Database’s (NVD) Common Vulnerabilities and Exposure (CVE) list.  Dashjr courted controversy in a Dec. 6 post to X (formerly Twitter) claiming that Inscriptions — used by the Ordinals Protocol Ordinals and BRC-20 creators to embed data on satoshis — exploit a Bitcoin Core vulnerability to “spam the blockchain.” PSA: “Inscriptions” are exploiting a vulnerability in #Bitcoin Core to spam the blockchain. Bitcoin Core has, since 2013,…

XRP Price Could Regain Strength If It Clears This Key Barrier

XRP price is eyeing a fresh increase from the $0.600 support. The price could gain bullish momentum if it clears the $0.625 resistance zone. XRP is slowly moving higher above the $0.612 level. The price is now trading below $0.625 and the 100 simple moving average (4 hours). There was a break below a key bullish trend line with support near $0.628 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair start a fresh rally if it clears the $0.625 and $0.628 resistance levels. XRP…

Ethereum Price Consolidates Below Hurdle, What Could Trigger Fresh Increase

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Ethereum price started a consolidation phase after a sharp decline. ETH must clear the $2,275 resistance to start a fresh increase in the near term. Ethereum recovered losses after testing the $2,000 support zone. The price is trading below $2,320 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bullish momentum if it clears the $2,250 and $2,275 resistance levels. Ethereum Price Eyes Fresh Increase Ethereum price…

IRS tax bill will swipe creditors of any ‘meaningful recovery,’ says FTX

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A proposed $24 billion tax bill from the United State IRS will likely suck up any “meaningful recovery” that was meant for victims of FTX, according to the bankrupt crypto exchange.  The United States tax authority has been trying to chase tax arrears from the crypto exchange and its sister firm Alameda Research since May this year. The IRS initially claimed $44 billion across 45 separate claims against FTX and its subsidiaries in May. 10, but recently brought that number down to $24 billion. However, in a Dec. 10 filing…

Avalanche was ‘undervalued’ before posting 79% weekly gain: Analysts

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Avalanche (AVAX) appears to be one of the few major cryptocurrencies to buck the recent crypto decline, posting a phenomenal 79% weekly gain as others have declined. Some analysts believe this is due to recent partnership announcements and a rise in trading volumes and total value locked, while others claim there’s been a shift in how altcoins are valued. While Bitcoin (BTC) and Ether (ETH) saw a 6% nosedive on Dec. 11, AVAX gained 13.6% in the last 24 hours, per CoinGecko data. Avalanche is up 79% in the past…

Bitcoin Price Holds Key Support, Can Bulls Overcome This Key Hurdle?

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Bitcoin price dived again and retested the $40,000 support zone. BTC is rising, but it must clear $42,350 to move into a positive zone. Bitcoin is attempting a fresh increase from the $40,000 support zone. The price is trading below $43,600 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $41,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum once it clears the $42,350 resistance zone. Bitcoin Price Remains…

Only 11 of Elizabeth Warren’s 330 bills have ever passed

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United States Senator Elizabeth Warren’s crypto Anti-Money Laundering bill has been causing a massive stir in the crypto industry. But some have pointed out that the senator’s bills have a track record of not going anywhere. According to data from the bill-tracking platform GovTrack, Warren has introduced 330 bills during her 11 years as a senator. Ten were eventually folded into other bills, and only one relatively obscure bill has ever been enacted. This was the National POW/MIA Flag Act, which requires the prisoner of war/missing in action flag to…

Bitcoin (BTC) Bonds in El Salvador Swing Closer to Reality as Price Targets $45,000

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Bitcoin “Washout” Completed, BTC Ready For $48,000—And Higher

Earlier today, Bitcoin (BTC) flash crashed to as low as $40,400 before rebounding to spot levels. This sudden drop triggered what Mike Alfred, a crypto value investor, said was a “textbook washout” necessary to liquidate speculators. The drop and bounce, Alfred further explained, has “wiped out open interest and is exactly what you want to see” before prices recover, possibly edging to $48,000 in the coming sessions. Bitcoin Drops, Over $120 Million Liquidated The washout, if past even guides, might have dented sentiment, forcing inexperienced holders and traders to take profit, allowing…