Bitcoin is back at record high topping $34,000 and is up more than 350% compared to a year ago. This article discusses the main reasons which can partly explain this phenomenom and also points to potential downside risks. {tweet} 1- Improving network efficiency When Bitcoin reached its previous record high in late 2017, one of the key problems was the delay for transactions to be executed. Mempool size — the aggregate size in bytes of transactions waiting to be confirmed – remained high, resulting in longer average confirmation time and higher priority fees. Fortunately, as the chart below shows, the issue has been ... (full story)