RE: The War On Bitcoin Is Proof Crypto Is Winning
No matter how much bitcoin imposes itself strongly do you know
The decline in daily volume bitcoin has removed the burden of "Mempool" - the place where transactions are stored after verification, resulting in a significant reduction in fees. While the widely used bitcoin wallets, such as buccaneers, charge a fee of about 50 satoshi per byte, equivalent to $ 0.5 for medium-volume trading. This low fee has helped make Bitcoin more accessible to ordinary users, especially for users using bitcoin for small payments. The recent decline in bitcoin transaction fees is clearly due to lower daily volume and not due to specific buy or sell orders, as major companies have not yet implemented the SegWit upgrade or transaction consolidation techniques. As such, when the price of bitcoin rises again, their daily trading volume will increase, so the fees will rise again. In addition, the increase in bitcoin fees will limit the ability of newcomers from ordinary users to trade smoothly and settle their payments.
The rise in fees is likely to affect the bitcoin price in the short term, if the market recovers again. There is also an urgent need to find innovative solutions to reduce purchase and sale orders, as well as the rapid implementation of "SegWit" updates by bitcoin companies to ensure bitcoin returns to previous levels.
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