Market Wrap: Bitcoin Expected to Rise on Taproot Upgrade

Market Wrap: Bitcoin Expected to Rise on Taproot Upgrade
Cryptocurrencies were mostly lower on Friday after buyers failed to sustain the all-time price highs reached in bitcoin and ether earlier this week. Analysts expect trading activity to advance next week ahead of the Bitcoin Taproot upgrade, which aims to improve privacy and efficiency on the blockchain network.“Bulls may have some power left to push the market higher as a result of the [Taproot] upgrade,” Lukas Enzersdorfer-Konrad, chief product officer at Bitpanda, wrote in an email to CoinDesk.The upgrade is expected to be implemented in the next few days, although other analysts expect minimal impact on bitcoin’s price. It’s possible…