In mid-June, the ‘Speedy Trial’ lock-in period for the Bitcoin network upgrade Taproot locked in at block height 687,285 and was mined by the bitcoin mining pool Slushpool.
Taproot is expected to activate and go live on the main network on Saturday, November 13, 2021, following the lock-in period this past summer.
While Taproot output type, the upgrade is a soft fork and is entirely opt-in like its predecessor Segwit.
The activation of this specific upgrade has caused people to speculate that BTC’s price may spike significantly higher after a successful soft fork.
On November 12, a bitcoin market update blog post published by decentrader.com says that market sentiment could spark a rally after the Taproot upgrade.
Overall, people believe that once the network gets improved scalability and fungibility, the upgrade could bring a new all-time high .
“Taproot, after all, is here to make Bitcoin better, more efficient, and more private, all of which are factors that could justify a higher price,” the digital asset exchange concluded.
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