There's a total of 10,000+ cryptocurrencies actively trading on the market, according to Coingecko.
Whether big or small these respective cryptocurrencies contribute to the $2.76 trillion dollar, global marketcap, trending 0.2% in the green.
Leading the way is the king Bitcoin (BTC), hot on its heels is Ethereum (ETH) and BINANCE Coin (BNB). During the time of writing Bitcoins' price stand around $60,657.50, Ethereums' $4,273.68 and Binance Coins $580.83. The recently hot alt-coins ADA, SHIB, BCH have been trading lower in the last 24 hours but higher compared to last years' time.
Bitcoin (BTC)s' fresh "Taproot Protocol" upgrade is no older than 72 hours and instead many were expecting to see Bitcoin skyrocket some 10000% to a $250,000 crypto-stock. However, it's not to say that this isn't possible or in the cards but for now it's still too early to be expecting anything more a successful upgrade.
So what is the "Taproot Protocol" and what is it addressing?
The last upgrade Bitcoin (BTC) underwent came in 2017 and the price went crazy but so did investors. By December of that year, Bitcoin (BTC) reached a new ATH.
This time around investors weren't so much expecting a million dollar protocol upgrade but rather some important under the hood fixes. Because unless you have been under a rock in the last 12 months, Bitcoin (BTC) has already exceeded many investors expectations, including myself; when the price increased 5x to become a $60,000 crypto-studed moonrocket and in the process reaching a new ATH 2x.
Back to the "Taproot Protocol" which in its most basic terminology, allows Bitcoin (BTC) to expand, adapt and scale. For some time now the crypto space have been hearing much about the lightning network. Good news, the lightning network is compatible with the upgrade. Along with many important aspects are reduced network fees, enhancement of privacy and security by improving data efficiency (i.e. allowing single data transactions using keys and multiple signatures) and making smart contracts possible.
I think it's now safe to say that a crypto currency created by 20th century thinkers, with 20th century technology has now entered the 21st century world in which it help create. Simply, the "Taproot Protocol" means Bitcoin is now ready to handle creating and executing smart contracts which is important in the DeFi space which also means Bitcoins' future is brighter and more lucrative.
So will the price increase in the coming days, weeks and months?
While it is highly expected, no one, for good reason, wants to factor in any early predictions that may become a false positive or vice versa; in a way. However, the answer is pretty simple and that is of course yes.
The price is going to increase.
It is what makes stocks and units of value attractive to short-term and long-term investors. I have experienced significant short-HODL term gains and significant long-HODL term gains. Both are pretty sweet. But whether that price increase comes sooner or later is another story. Though as long as the team working on the project continues improving the protocols, programming codes, data and making sufficient upgrades, then Bitcoin (BTC) is going to become something more incredible and amazing in our lifetime, representing the future of real Financial Freedom, made For Us, By Us.
Honorable Mention
Satoshi Nakamoto (21st Century Financi Freedom Pioneer)
