I think OP has made the assumption that
Op has done this:
He still thinks that the price and the fee are somehow related, yet, truly amazing the fees have dropped to average 1$ with the price being above the level where we were experiencing fees of 5$. How could this be possible? It's maybe because of the concentrated sarcasm that is screwing up charts?
Or am I looking at the wrong price chart and in fact is at 2000$ per coin?
Every time there is a question on how something will evolve in term of numbers and value, there is a guy with a system that knows the answer, and it's so simple, we just multiply it by 10 and here you have it, we know how fees will evolve in the next 452 years and two months.
Having said that, what are the driving forces for BTC fee volume?
I imagine that there is the amount of transactions that are being posted to the mempool. Therefore people would compete with higher BTC fee volumes to have their transactions posted first. but then what if there was a dip in transactions posted to the mempool and the fees drop?
I imagine that there is the amount of transactions that are being posted to the mempool. Therefore people would compete with higher BTC fee volumes to have their transactions posted first. but then what if there was a dip in transactions posted to the mempool and the fees drop?
The halving happened.
We were mining fewer blocks per day, less space for transactions, offer and demand, the fee went up, simple as that.
Then the retargeting happened the second time, we're mining an extra 10% blocks now, fees are going down.
Price has nothing to do with it, as it never did.
At present, the value of bitcoin is measured by USD ($). When the price of bitcoin increases, its value also increases.
The only thing that increases is shitposting..