Bitcoin Value of $40k & Upgrade Attracting Bullish Sentiment

Posted by Adegbotolu Kehinde Erastus -
Scope Markets

Bitcoin value hit $40k, and it just got approval for a makeover, making it sizzling hot right now. This makeover which is an upgrade, is called Taproot.

So how will Taproot upgrade affect Bitcoin?

  • The upgrade will increase transaction privacy and efficiency
  • Reduced cost of transaction fees
  • Implementation of Schnorr signature will see multiple complex bitcoin transactions produced under a unique signature

The Taproot upgrade will take effect in November, and just like a beautiful bride waiting to be unveiled, Bitcoin has started getting some attention already from Jack Dorsey (CEO Twitter), Elon Musk (Doge father) and Paul Tudor Jones (Hedge Fund Manager). Now, that’s some serious attention there, and Bitcoin just broke the $40k price level for the first time in June.

So what are you waiting for, aren’t you attracted? Bitcoin could become pricey very fast.

Bitcoin value & charts

Bitcoin value daily chart June 15,2021 Scope Markets
Bitcoin daily chart
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