March of the Bitcoin Fee Hike!
Have you noticed that Bitcoin’s Average & Median-sized network fees have risen 40% higher in March? Yeay … Dreams come true. Here’s the story:
Average & Median-sized Network Fees have been rising since December 2018, but March was the highest since then, with a spike of 40%. Much like the seasons, fee hikes come and go but this one was special.
- The increase in transactions is a significant factor. When there are lots of transactions, the fees rise accordingly.
- Also, the higher demand for Bitcoin, brings more fees with it.
- Thirdly, Bitcoin holders want to cash out their coins, and make massive transfers with them, which also raise fees.
It’s a Bitcoin World!
In short, this Bitcoin fee hike is the result of multiple factors coming together in an attempt to control the high usage of Bitcoin. Investors have to take this into consideration, when investing in cryptocurrencies, as it could potentially affect their returns.
But with all this said, Bitcoin is still the King, and fees are just a minor roadblock to the larger dream of making it to the top of the crypto market!
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