Bitcoin (BTC) has the potential to record a price increase of up to $ 90,000 in the next few weeks after witnessing a dumping of inflows of investment funds from among leveraged investors.
While analysts describe Bitcoin as bearish, the Decentrader trading platform on the other hand thinks the asset is still bullish with expectations of price increases up to $ 85,000 and $ 90,000 with Fibonacci levels at 1.618.
Arguably Bitcoin is poised to make a parabolic leap in the near future.
Taproot activation
The latest Bitcoin upgrade over the past four years, was now activated yesterday at noon Malaysian time.
For the record, this time improvement was locked in June this year at 687,284 blocks.
Known as Taproot, this enhancement is activated on block 709,632 with the opportunity offered to developers to integrate the latest features capable of enhancing privacy, scalability, and network security through the introduction of Schnorr signatures.
Most exciting for Bitcoin supporters, Taproot also allows this blockchain to implement smart contracts just like most next -generation networks like Ethereum, Solana, Cardano, and Chainlink.
While many think this major update will have minimal impact on the price of Bitcoin, there is no denying it has started to show positive movements since last night.
At the time of writing, BTC is trading at $ 65,955.25, up nearly 2% in 24 hours.
