EN 
???? BTC | $38,955 (+3,491, +9.9%)
???? ETH | $2,500 (+139, +5.9%)
???? XRP | $0.88 (+0.05, +6.4%)
???? LTC | $170 (+9, +6.0%)
Bitcoin jumped yesterday as Elon Musk tweeted that Tesla would accept Bitcoin payments again once mining has turned at least 50% green. Realistically speaking however, this may not be a long shot. Miners making up a majority of Bitcoin’s processing power are being steadily “chased out” of China, where many used cheap coal-derived electricity. At least some are fleeing to regions such as North America, many with cryptocurrency-friendly local governments.
Bitcoin dominance appears to be rising after bouncing off lows at 40%. Traditionally speaking, this has heralded “reverse-altcoin” season in the past, where Bitcoin and large-cap altcoins tend to outperform altcoins.
Bitcoin has received its +90% mandate from miners for the scheduled Taproot upgrade, months ahead of schedule. This will be Bitcoin’s most anticipated upgrade since 2017, and outfit privacy, multi-signature, and scaling capabilities to Bitcoin. The next step is now a 5-month waiting period to allow for miners to update their software before launch in November.
