Bitcoin Price Crosses $66,000 as Taproot Upgrade is Now Live

Bitcoin Price Crosses $66K

Created by TradeOr

3rd Party Analysis 15 Nov 2021

Key Takeaways:

  • The price of bitcoin gains 3% early on Monday and jumps over $66,000 per coin
  • The Taproot upgrade was successfully launched on Sunday with several key improvements

What’s Today’s News in Crypto?

Bitcoin, the world’s first and most popular cryptocurrency, kickstarted the trading week after the long-awaited Taproot upgrade. Moreover, the orange coin is now running on freshly-changed blockchain with several key improvements.

The Taproot upgrade, the first major change to the Bitcoin code in four years, was successfully rolled out on Sunday. As a result, the Bitcoin network now boasts increased privacy for users, cheaper transactions, and better smart contracts.

The new features to the Bitcoin blockchain are expected to greatly enhance user experience. Further, they are likely to increase the speed of mainstream adoption as now it’s easier to work with bitcoin.

What’s the Price of Bitcoin?

Against this backdrop, the price of bitcoin today jumped 3% to top $66,000 per coin. Moreover, the original token reached an intraday high of $66,300 apiece, also a one-week high. Still, projections for bitcoin’s performance remain positive and highly optimistic.

In fresh signs of elevated growth prospects, Anthony Scaramucci, founder of hedge fund Skybridge Capital, commented on bitcoin. Speaking to CNBC on Friday, the famous bitcoin supporter said the leading cryptocurrency could reach $500,000 in the long-term.

“These coins will easily trade at $500,000 a coin,” he said while he added “we are very, very early.” What he meant by “early” is the current phase of adoption of bitcoin and the crypto market. In other words, it is estimated that about 300 million people in the world own cryptocurrency.

With this in mind, as mainstream adoption grows, more individuals and institutions will hop on the crypto bandwagon.

How to Buy Bitcoin?

In this sense, getting yourself some bitcoin or crypto has never been easier. Now, you can invest in cryptocurrency with just a few clicks. To do that, make sure to check our cryptocurrency guide where you’ll learn how to invest in bitcoin and alternative coins.