My question is already in the subject line.
I saw today that there is about 180 k unconfirmed transactions (
https://blockchain.info/unconfirmed-transactions)
Besides the fact that it undermines btc's reputation and ability as a currency, is that what keeps the price steady at the moment?
Maybe you can help me out here, but the most likely scenario for me is that this prevents the btc price from dropping right now?
thanks in advance for your input!
It went as high as 270K if I'm not mistaken, which coincides with bitcoin price is peaking at $18K. But it looks like it cool down a bit because the price of bitcoin is going down as well. So we can conclude that there's a correlation between mempool clogging to bitcoin price increasing. I think if I understand you correctly, there will be no bitcoin price steady, its always unstable, like today the price is going down making a correction. But there are news that LN will be soon implement which will help at least unclogged network congestion.
https://www.coindesk.com/lightning-bitcoin-scaling-tech-really-know/