Bitcoin Transaction Fees Are Up 800% in One Month

Bitcoin Transaction Charges Are Up 800% in One Month

From April 11 till Could 14, Bitcoin (BTC) transaction charges elevated by greater than 1,250% from $0.38 to $5.16.

Whereas Bitcoin transaction charges have since fallen by 33.3% to sit down at roughly $3.44 as of this writing, charges have elevated by 36.5% for the reason that block reward halving on Could 11.

Bitcoin charges double in three days after halving

The common price of executing transactions on the Bitcoin community has elevated by greater than 800% in only one month, with Could posting the best transaction charges since July 2019 thus far.

Bitcoin transaction charges March 2020 – Could 16, 2020: BitInfoCharts

Charges are up by greater than one-third for the reason that halving, which precipitated a rise in transaction prices of 105% over three days.

Regardless of charges reaching their highest ranges in practically one 12 months, present transaction prices are lower than one-tenth of the all-time highs recorded on the finish of 2017.

Transaction prices fall 8% instantly after 2016 halving

The run-up to Bitcoin’s second halving on July 9, 2016, noticed charges improve roughly 200% from $0.081 on Could 1, 2016, to an area peak at roughly $0.24 posted each throughout mid-June and late-July of that 12 months.

Bitcoin transaction fees May 2016 - September 2016: BitInfoCharts​​​​​​​

Bitcoin transaction charges Could 2016 – September 2016: BitInfoCharts

Over the three days following Bitcoin’s second halving, charges fell by practically 8%.

Latest price volatility dwarfs 2012 halving

Bitcoin’s first halving on November 28, 2012, noticed charges improve by 300% from Nov. 26 till Nov. 27, earlier than crashing again to pre-halving ranges inside two days of block rewards reducing.

Bitcoin transaction fees November 2012 - January 2013: BitInfoCharts

Bitcoin transaction charges November 2012 – January 2013: BitInfoCharts