Bitcoin... next important soft fork update is coming

15. Okt. 2021

Hi everyone

Bitcoin next soft fork upgrade will happen in next month so after the last soft fork SEGWIT update in 2017
this event can be so important for all Crypto markrt and in my opinion this event can even more importan
than "bitcoin Halving event" or important enough for the Holders, Miners and all the Crypto communities.
but what's the next soft fork update and how it can affect on the Crypto market in future.
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Bitcoin soft fork is scheduled for block height 709632 which should happen somewhere in November 2021.
Two proposals will be implemented, Taproot update and Schnorr signature update.

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What is a Bitcoin Taproot update?
Taproot is a name for the next Bitcoin protocol update (soft fork). This will be one of the and most important
and anticipated updates since the SegWit upgrade from 2017.

What is Schnorr update?
Bitcoin requires signatures to confirm the transaction. Currently, Bitcoin uses ECDSA, but this signature algorithm
does not natively support muti-sig transactions. Schnorr's signature scheme can aggregate multiple signatures and
output them as a single signature. This increases privacy and lowers transaction size and fees.
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How this event can affect on the Crypto market?
As you can see on the chart below after Bitcoin SEGWIT Update in july 2017 and Hard fork Bitcoin cash in August 2017
the market sarted a big rally and in five month hit New ATH and buying Climax happend in 18 December 2017


(this is just Fundamental outlook so we can not expect the same outcome and TA after soft fork event)
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THE CONCLUSION
SO even if this event won't affect on the market as the same happening in 2017 but it could be really important
affection for the future of the Bitcoin and all the Crypto market. I will do Technical analysis and the affection of
this event after new soft fork upgraded.
I will put the WEB references of my research below so you can check them for more details and information.
I also look forward for your opinion in comments and if you find this content positive and pleasant just push the
like button and share your feedback about the affection of this event.
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en.wikipedia.org/wiki/List_of_bitcoin_forks
nicehash.com/countdown/btc-forking-2021-11-15-12-00