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 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.
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 that were two days before the halving the block reward.
Bitcoin transaction fees November 2012 – January 2013: BitInfoCharts
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