Bitcoin has been successfully upgraded with Taproot. The crypto market is quietly observing the update. It seemed nothing really had changed. So one may wonder what is good for the change then? Here are some of the potential guesses of what may or may not happen.
Bitcoin price may be stable from now on
Taproot created a black box of price action to happen in the background. Lightning Network is another solution to create a black box to absorb the increased price action. Such a black box is a damper to reduce the price action from the market and makes Bitcoin price eventually more stable.
Price reaction of upgrade may not impact the market
Since the taproot upgrade, the price did not react on. The crypto market becomes more mature and stable. Large price fluctuation may not continue in the market.
Bitcoin is to store
In the earlier stage, Bitcoin was portrait as a digital currency to trade. However, with its price increased 10 folds. People gradually used Bitcoin as a store of value asset and store for uncertain future.
Bitcoin security improved
Taproot is also a security upgrade to have a new program language to hide multiple signatures operations into one single hash value and broadcast in the blockchain. The value of Bitcoin may continue increasing even without any significant news to inflate its valuation.
Bitcoin will be the forerunner of the crypto
Bitcoin is the first cryptocurrency invented. It will be the top choice of crypto since its security protocol and the way of sanction resistance. It will be the leader of the cryptocurrency to move forward even there will be a new coin or token to introduce. Its market domination will continue to keep large and influential of the crypto community.
In conclusion
Taproot upgrade is changing the Bitcoin landscape. It fixed the pseudo-anonymous loophole and becomes truly anonymous. The next step is to truly become private.
Photo by Sasha Freemind on Unsplash
Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.
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