Post
Topic
Board Bitcoin Discussion
Re: What caused bitcoin fees to retrace?
by
Zigabel
on 17/07/2024, 11:43:56 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?
The networks and now less congested and lesser amount of people are on the block chain transacting hence the reduction in the fees cause they have got lesser volume to push around. when the volumes are high, the transaction fees do go up as well, earlier, due to the halving, most persons were of the opinion that the bull was to set in almost immediately and so there was a kind of panic sales and that triggered some whales to sell of their crypto assets especially bitcoin and that led to a really huge and massive congestion on the block chain that led to the increased in the charges and all of the high fees of which it may happen again in the forth coming anticipated break of the ATH.