Bitcoin transaction fees drop to lowest levels of the past 4 years
Bitcoin transaction fees drop to lowest levels of the past 4 years
Bitcoin

Bitcoin transaction fees drop to lowest levels of the past 4 years

By Fabio Lugano - 12 Feb 2019

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Bitcoin transactions fees have decreased, reaching levels unseen since 2015.

The latest DIAR report, in fact, shows a very interesting evolution in the value of bitcoin transactions fees and in the average volume of transactions.

While the overall number of bitcoin transactions reached significant levels last month, returning to the levels of the boom at the beginning of 2018, the average fees applied are at extremely low levels, such as not to be seen from 2015.

Meanwhile, the average value of bitcoin transactions has dropped to new lows, reaching levels lower than in May 2017.

bitcoin transaction fees levels

The causes are intuitive. On the one hand we have the great processing capacity of miners, which makes bitcoin transactions cheap. On the other hand the drop in the average value of transactions can be seen as the combined result of two factors:

  • the reduction in the value of bitcoin, dropped to one-sixth of the value at the beginning of 2018,
  • the increase in the number of transactions, a factor that could be the signal of a progressive greater adoption of BTC as a means of payment.
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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