Starting last year until now, transaction fees have improved compared to the previous bullish period. Right now, fees are still cheap compared to the past, where sometimes they even reached $100 or more during a bull run. So, what changed? Will these low fees continue in the long term, or might we see another spike in fees when the price of Bitcoin surges again?
Do blockchain transactions depend on network congestion. The busier the Bitcoin network, the more fees it charges, because which one that has set the highest fees, that block to be get priority to confirmed quickly. Earlier, the network was kept busy by doing a lot of dost transactions, due to which the fees gradually increased a lot. But now only legal transactions are being done, so there is not much pressure on the chain, so now Bitcoin fees have been very low for a long time and transactions are being confirmed very quickly. This has been a very positive aspect for Bitcoin right now.