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Bitcoin course hopes for “Christmas upswing” thanks to weak dollar

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Bitcoin price climbs to $17,000 after a weak monthly close

  Bitcoin price is hovering roughly around $17,100 on Thursday, data from Cointelegraph Markets Pro and TradingView shows. With a daily gain of almost 4.5%, the market-leading cryptocurrency can successfully prevent the weak end of the month from causing new losses. Nevertheless, November recorded a big minus of 16.2%, which also marks the worst month since 2019. The good mood among investors is therefore more likely to come from the most recent statements by US Federal Reserve Chairman Jerome Powell, who for the first time announced that interest rate hikes could be reduced again as early as December. "Monetary policy affects the economy and inflation with a lag, so we haven't seen the full effect of our tightening," Powell said. To which he adds: "Accordingly, it makes sense to adjust the rate of our increases as we get closer to the level needed to reduce inflation." The time for such adjustments could come as early as December.” However, the head of the cent

FTX Tragedy: Binance Demands More Transparency; the US Senate regulations

  The negligence of Sam Bankman-Fried (SBF) and the resulting contagion effect are becoming increasingly clear. While Changpeng Zhao (CZ) is buying up struggling crypto companies while promoting greater transparency, the US Senate is more determined than ever to enact comprehensive crypto regulations . Since the collapse of FTX, other crypto exchanges have also been trying to be more transparent. Many of them are willing to disclose their cold wallet balances as Proof of Reserves . Binance even offered to use the so-called Merkle Tree. Most recently, Binance went a step further and hired global auditing firm Mazars to verify its token reserves. As a spokesman for the exchange explained, the third-party financial verification serves to improve the proof of reserves: “Mazars is reviewing all of the information we have released about the Proof of Reserves to date and will continue to verify future updates and tokens. The first verification update for BTC will be completed this week.”  Alo

Bitcoin crash over – When will we see the Bitcoin price rise again?

  How has the Bitcoin price moved in the last few weeks? In the last few weeks, the Bitcoin price has seen significant stabilization again after the FTX crash. After the crash of the FTX crypto exchange, the price fell below the $16,000 mark and was then moving in the direction of $15,000. These were the lowest bitcoin prices in 2022. In the last few weeks, the price has stabilized again above the $16,000 mark. The course settled between the values ​​of 16,000 and 17,000 dollars. Most recently, the Bitcoin price was briefly able to rise above the $17,000 mark again. This could be a sign that the price could still rally towards $20,000 in December. Has the bear market bottomed out? Bitcoin may have reached its low for the current bear market after the FTX crash. We had already seen this low in June 2022, when the price fell below $18,000 for the first time in 2022. But the unexpected crash of the FTX crypto exchange triggered such a sharp drop in the price that Bitcoin fell even further

DeFi protocol Ankr exploited victim

  The DeFi protocol Ankr was the victim of an exploit today, December 2nd, in which almost $5 million was stolen. Blockchain security firm PeckShield reports that the smart contract for the aBNBc token had an “unlimited mint bug.” According to this, the exploiter holds around 900 BNB, 3,000 ETH and USDC worth $500,000. Other attackers took the opportunity and also launched attacks on the DeFi protocol. So far there are around 21 exploiters . Amkr itself has already assured “cooperation with exchanges that immediately stopped trading”. It goes on to say, "All underlying assets on Ankr Staking are secure at this time and none of the infrastructure services are affected." My Top Picks Honeygain - Passive earner that pays in BTC or PayPal M andalaExchange - The Best no KYC crypto Exchange! Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin Cointiply - The #1 Crypto Earning Site LiteCoinPay - The #1 FaucetPay earner for Litecoin  LBRY/Odysee - YouTube Alt

NEXO: NEXT BANKRUPTCY CANDIDATE?

  Questionable returns Nearly all of Nexo's peers have been forced to file for bankruptcy in recent months, crypto analyst Dylan LeClair has now questioned its offered yields of over 10%. His argument is based on the above-average returns for users compared to the rest of the decentralized financial market (DeFi). LeClair explained: If the rate of return offered is higher than the 'risk free' market rate, then by definition there is direct risk. Other crypto lenders, such as Celsius, BlockFi, Voyager, and Vauld, have already been victims and reeled from the FTX collapse. Lamborghini auctions unique NFT Distrust of credit products The US Securities and Exchange Commission (SEC) took action against similar products last year. For example, BlockFi was forced to withdraw its first high-yield offering after a $100 million SEC settlement. Recently, the Australian Securities and Investments Commission (ASIC) also sued the fintech company Block Earner. The company's high-yield

“Bitcoin is the only commodity”

  Commodity Futures Trading Commission (CFTC) chief Rostin Benham declared Bitcoin the only cryptocurrency to be considered a commodity. This reports Fortune and refers to a crypto event at Princeton University. Benham stressed the dangers of an unregulated crypto market, citing the FTX collapse and urging the need for legislation. He further stated that the “only cryptocurrency that should be considered a commodity is bitcoin”. Although the CFTC chairman praised the cooperation between agencies, he found the "regulatory matrix to be an imperfect system." As recently as late October , the SEC and CFTC were facing disagreements over Ethereum. It remains to be seen how his statements will ultimately affect the future regulation of the crypto market and Ethereum. My Top Picks Honeygain - Passive earner that pays in BTC or PayPal M andalaExchange - The Best no KYC crypto Exchange! Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin Cointiply - The #1 Crypto