What are the factors that influence the bitcoin fees chart?

1 answers

• May 12, 2022 · 3 years ago
  The bitcoin fees chart is influenced by several factors. One of the main factors is the network congestion. When there are many transactions waiting to be confirmed, users compete by offering higher fees to get their transactions prioritized. This leads to an increase in fees. Another factor is the size of the transaction. Larger transactions require more block space and therefore have higher fees. Additionally, the fee policies of different exchanges can affect the fees chart. Some exchanges may have lower fees, while others may have higher fees. It's important to consider these factors when looking at the bitcoin fees chart to understand the dynamics of the market.
  675

  338