On July 20th, Theta hit its lowest point since March. It fell down to $3.49 (THETA/USD) but made an incredible recovery over the next four days, rising 114%. What we’ve seen since then is the Theta price moving around the $6 mark.

This doesn’t appear to be an indication that it’s going to continue its bullish trend. A lot of cryptocurrencies fell around the 20th of last month, and Theta’s dive seems to be mostly a reaction to the wider market. Its recovery has been more substantial than some of its other crypto counterparts.

Analysts attribute this to its imminent upgrade, which is expected to bring a host of improvements to the Theta protocol. It was announced last week, and the update should improve block proposal speed, cutting down on the wait time. This will make for a more efficient blockchain, and it’s coupled with an improvement that allows support for 1,000,000 video users at the same time.

Another one of the expected upgrades will improve the pruning process, making it more efficient by slowing down the disk size consumption rate. This means the blockchain database will be optimized so that data is read and written at a faster rate.

What the Upgrade Means for the Theta Price

Once all of these improvements come through, it could mean that we’ll see another boost for Theta, but that may not last for long. What happens with a lot of cryptos is that when their protocols change for the better, there’s a wave of new adopters and increased interest. That often tends to die back down over the next week or so, and we may see that for Theta.

If a lot of investors see these improvements as something beneficial over the long term, however, Theta could see some substantial growth that continues from week to week.

We will wait and see if Theta tests the $7.00 level, which could mean the start of a bullish trend for at least a short while. Investors may not want to wait that long, however, to get on board with this crypto. These upcoming improvements for the protocol mean it could have the opportunity to breakout soon.