11,500 UNCONFIRMED Bitcoin Transactions and counting
Bitcoin rose in the past couple days to reach the previous all time high prices only for it to go back to the mid $2400-$2500 price it was before the collapse of $1900 range. Even after BIP 91 it looks like the hype is over.
At the moment transactions are way to slow and taking longer than i expected during this period. For instance right now there are 2.25 transactions per second with 11,500 unconfirmed btc transactions As of writing this post Is this the reason the price is tanking? I have no clue.
I think if the confirmation time was to increase the price of bitcoin would jump up again and we can rake in some profit before August 1st. What's your take on this?