- Bitcoin Core 28.0 version has finally been released to patch the vulnerabilities discovered last month with an extra layer of security.
- An analyst believes that the Bitcoin price could fall to $42k if it fails to break through the upper trendline, which has been in place since March.
The Bitcoin (BTC) development team has announced the launch of the Bitcoin Core 28.0 version as part of its extensive plans of subjecting the BTC mainnet to performance improvement and fixing major bugs to maintain decentralization. According to reports, this update would enhance the security and privacy of users without compromising the program’s functionality.
Bitcoin Core 28.0 has been released!
Welcome Testnet4 😁https://t.co/LZDKhXy7KF
— Jameson Lopp (@lopp) October 5, 2024
More on the Update
Investigating the background of this development, CNF observed that Bitcoin developers discovered and issued warnings last month about a serious vulnerability and software bug that was affecting 16.66% of all BTC nodes (one in every six Bitcoin nodes). According to the details, this vulnerability paved the way for malicious actors to stage DDoS attacks by primarily targeting and exhausting nodes that had low-difficulty header chains.
To patch this loophole, developers designed this latest version with an extra layer of security enhancement with relatively high system requirements. This implies that up to 125 peer connections and 11 outbound connections would be allowed. In this case, users would be able to stay integrated within the Bitcoin network and contribute to the decentralizing structure.
Another addition to the BTC Core 28.0 update is a feature that supports reproducible builds. According to our research, this enables experienced users to compile identical binaries in addition to those distributed on the BTC Core official website. In the long run, trust and transparency would be greatly improved in the community.
Amid the backdrop of these incredible updates, the Bitcoin price is making attempts to stage a bullish reversal after geopolitical tension triggered severe liquidation in the market as we earlier reported. At press time, the asset was trading at $62.1k after surging by 0.92% in the 24 hours.
Bitcoin Price Analysis
In the latest analysis by crypto analytics firm CryptoQuant, it was observed that the daily moving average of Bitcoin has temporarily moved above the weekly average. According to our analyst’s interpretation, this signifies a short-term bullish potential.
Conversely, another analyst, identified as Benjamin Cowen, pointed out that the asset’s inability to overcome an upper trendline formed since March could lead to a 32% correction to the lower trendline. In this case, Bitcoin could fall to around $42k.
If Bitcoin is rejected up here [upper trendline]again and it comes down again then you have to look at this trend line down here [lower trendline]again and if you look at the bottom part of this trend line let’s say by December….it would put the price of Bitcoin right around $42,000.
Adding to this, Cowen disclosed that failure to break the lower high structure could position the price to the 100-week moving average where Bitcoin established support in the fourth quarter of 2019 (Q4 of 2019) and the first quarter of 2016 (Q1 of 2016).
