Post
Topic
Board Beginners & Help
Re: 50k is exciting
by
Yamane_Keto
on 13/02/2024, 02:27:13 UTC
In just a space of about 6 hours just because people are rushing to move their Bitcoins to exchanges and quickly make profit off it. However the fees will go back to normal though once the rush has subsided.
The fees spike is understandable due to the decentralized nature of Bitcoin and will occur with every change in the price, but such a spike will not affect the fees in the long term because it will be in less than 60 blocks and the fees will return to normal after several hours. The continuity of the spike will be due to things like injections, which we seem to be responsible for causing high fees so far.

In your estimation of the appropriate fees, although the recommendations on mempool.space are useful, but if you take a deeper look at mempool, it will save you more fees.