How do forks and updates impact BTC price?

Forks and protocol updates play a key role in Bitcoin’s evolution and can influence its market value. A fork—whether soft or hard—introduces changes to the code. Soft forks are typically backward-compatible upgrades, while hard forks can create entirely new cryptocurrencies, like Bitcoin Cash. These events often create buzz and debate in the community, affecting the btc price. Some investors may buy in anticipation of new features or airdrops, driving prices higher before the fork. On the other hand, uncertainty or disagreement among developers can lead to temporary price drops. Network upgrades that improve scalability, security, or efficiency are usually viewed positively. However, if the fork leads to division in the community, it could cause market instability. To stay ahead of these events and their impact on Bitcoin's market value, you can rely on Toobit’s btc price and technical analysis tools.