a days before i was giving 0.30 - 0.60$ for Transaction fee on Blockchain today i woke up and i found it 2$ and when i send big amount it goes up to 10$ on regular not even priority. Does anyone have an explanation for this ?
Check these picture to understand what i'm talking :
https://imgur.com/a/6sjgg3qThe transaction fees are raging due to several factors. One is the size of the block in Bitcoin's blockchain, which is limiting the number of transactions that can go through at any given time. Bitcoin's network is powered by miners, people and companies who use a tremendous amount of computing power to create new bitcoins. And when there's too many transactions to processwhich currently happens very often miners will prioritize transactions that pay a higher fee.
Currently miners have the time of their life. Bitcoin price is rising steadily every month. Fees are growing monthly as well. In short term really nice for them. If you look at the transaction cost chart you will see a correlation between bitcoin bull runs and transaction costs.