By improving security and mainly privacy, making the traceability of operations more difficult, this update should bring, a priori, a positive and favorable impact on the price of the main cryptocurrency.
The effects that will be generated through this update, greater privacy and security, are attractive enough to incentivize a push in the demand for Bitcoin. Likewise, it is important to note that the updates that Bitcoin is receiving add more and more value within the crypto community and, according to statistics, are generating an increasingly massive adoption of the cryptocurrency.
This decision on the network upgrade was approved by 90% of the Bitcoin community, and it is expected, as in previous updates, that the price of the cryptocurrency will suffer a significant upward movement as a result of this.
Bitcoin is currently trading at $ 61,000.
The market consensus was the idea that the rally that propelled Bitcoin to $ 67,000 for the debut of the first exchange-traded fund (ETF) based on US futures ended and the outlook was profit-taking.
