Re: Bitcoin fees are ridiculous at the moment, will they go down soon?
So over the past 48 hours as we all know bitcoin price soared to new heights and is now going through a price correction. The network fess though for sending have also shot up, it no longer makes sense for sending small amounts which is a kicker as my online business takes btc as form of payment :/ What does everyone think, will the fees go down over time and if u had to hazard a guess how long? I'm hoping it settles over the next few days.
I don't think that the fees will go down in the next coming weeks. On the contrary it will increase as everyone want's to join the train specially that bitcoin future contracts will be offered soon. I have transactions that I have send in the next 5 blocks, unfortunately I still haven't go it and the only choice I got is to wait.
. And it looks like that mempool is clogged with more than 200,000 unconfirmed transactions. I also do hope that it will settle over the next couple of days, but it won't. Last time I saw this kind of fill up on mempool was during the scaling war and before the actual Segwit2x implementation.