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Bitcoin transaction fees at yearly highs; What’s next for BTC?
Bitcoin (BTC) transaction fees have increased in the last weeks, recently crossing yearly highs. On December 6, a Bitcoin transaction fee surpassed the average global daily income of $26.66. Essentially, fees might rise when the network reaches saturation, which is relatively low on Bitcoin due to its protocol design. Users outbid each other to have their transactions confirmed first, and these dynamics increase the average or minimum network fees. In particular, the average Bitcoin transaction fee reached a new yearly high at $37.43 on December 17. Finbold retrieved this historical data from BitInfoCharts on ... (full story)