trading hours as the markets slowly digested a highly volatile trading day on Wednesday, when bitcoin dropped to near $64,000.
Others pointed out Taproot, the most significant upgrade to the Bitcoin blockchain’s protocol in years, could further push up the underlying currency’s price.
Bitcoin’s “price has no doubt been supported by the upcoming Taproot upgrade,” Singapore-based trading firm QCP Capital, wrote in its Telegram channel on Wednesday.
Bitcoin buyers took some profits after the cryptocurrency reached an all-time price high near $68,950 on Wednesday.
Upside momentum is starting to slow, especially given recent overbought signals on the charts.
“First Mover” hosts spoke with Miami Mayor Francis Suarez for details on his plan to take his next paycheck in bitcoin, as well as the city’s plan to become the next bitcoin hub.
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Damanick is a crypto market analyst at CoinDesk where he writes the daily Market Wrap and provides technical analysis.
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