Bitcoin

Bitcoin transaction fees increase 800% in one month

From April 11th to May 14th Transaction fees for Bitcoin (BTC) have been increased by more than 1,250%, from $ 0.38 to $ 5.16.

While Bitcoin’s transaction fees have now dropped 33.3% to around $ 3.44, The increase was 36.5% Halve block reward from May 11th.

Bitcoin commissions doubled within three days of halving

The average cost of performing transactions on the Bitcoin network has increased by more than 800% in just one month May is the month in which the highest transaction rates have been recorded since July 2019 to date.

Bitcoin transaction fees increase 800% in one month
Bitcoin transaction fees increase 800% in one month

Bitcoin transaction fees March 2020 - May 16, 2020: BitInfoCharts

Bitcoin transaction fees between March 2020 and May 16, 2020: BitInfoCharts

The rates have increased by more than a third since halving and have a Transaction cost increase of 105% in three days.

Although rates have peaked in almost a year, The current transaction costs are below a tenth of the highs recorded at the end of 2017.

Transaction costs fell 8% immediately after halving in 2016

Ahead of Bitcoin’s second halving on July 9, 2016, commissions rose approximately 200% from $ 0.081 on May 1, 2016 to a local high of approximately $ 0.24 recorded in mid-June and late July Year.

Bitcoin transaction fees May 2016 - September 2016: BitInfoCharts

Commissions for Bitcoin transactions from May 2016 to September 2016: BitInfoCharts

In the three days after the second halving of Bitcoin, commissions fell almost 8%.

The latest dwarfs in interest rate volatility halved in 2012

In the first halving of Bitcoin on November 28, 2012, commissions increased by 300% from November 26th to 27th before returning to the values ‚Äč‚Äčthat were two days before the halving the block reward.

Bitcoin transaction fees November 2012 - January 2013: BitInfoCharts

Bitcoin transaction fees November 2012 – January 2013: BitInfoCharts

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