Post
Topic
Board Bitcoin Discussion
Re: What caused bitcoin fees to retrace?
by
CageMabok
on 13/07/2024, 08:52:55 UTC
Now that Bitcoin fees have come back down, what was the cause of the increase?  Was it runes and ordinals?

Has the volume of these derivatives declined to the point that fees are now what they used to be?
Bitcoin transaction fees will always be adjusted to the price of Bitcoin itself because from the current price range it is of course very normal that the amount of fees for each transaction has decreased because the price of Bitcoin itself is not increasing at this time. However, there are also other influences such as the large number of transactions at one time causing excessive congestion, but for now this is normal for fees because it is quite in line with what is happening now in Bitcoin.