Emma Posted June 12, 2021 Share Posted June 12, 2021 I saw a news story on this and then several people were talking about it in my social circle. Apparently, the transaction fees for Bitcoin dropped by 94% and now cost less than $5. How the heck did this happen? Why did it happen? Is this a bad sign? 1 Quote Link to comment Share on other sites More sharing options...
Kuro Posted June 12, 2021 Share Posted June 12, 2021 I think the transaction fees go up/down based on the cost of the coin and volume traded as well, so since the latest crash this would be expected 1 Quote Link to comment Share on other sites More sharing options...
James Posted June 13, 2021 Share Posted June 13, 2021 It is all about supply and demand. So as more people are trying to make transactions the demand on the computers goes up which causes the fees to go up since people want their transactions settled in a reasonable amount of time. When transactions on the network go down then there is less demand on the computers but the supply is still there and the cost comes down to match the current demand. Quote Link to comment Share on other sites More sharing options...
EagleEye Posted June 16, 2021 Share Posted June 16, 2021 Yup! The demand has been super low, my binance charts show a crazy change. Quote Link to comment Share on other sites More sharing options...
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