Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Transaction fees rise by 590 Percent.
by
minersday
on 30/07/2020, 23:47:31 UTC
Along with the increase in BTC price, transaction fees also spiked Embarrassed In recent days, bitcoin had a bullish rally which lifted prices above 11000 at the time of recording. The transaction fees of bitcoin also moved up to heights with a spike of nearly 590 percent. What is the reason behind this? Click to know more
https://coinpedia.org/news/bitcoin-transaction-fees-surges-590-percent-heres-what-can-help-it-save/

As Newton stated in his third law of motion, "for every action, there is an equal and opposite reaction".  So far as there is an increase in the market value of Bitcoin, its gonna affect other aspects like the transaction fees needed to send a particular amount of Bitcoin. These transaction fees are usually a fixed amount of Bitcoin. Assuming it takes 0.00001 BTC to send 0.05 BTC when the price of Bitcoin is $9k, it will still take the same amount to send the same BTC even when the price is $15k.  People should learn to live with this kinda spikes.