Bitcoin transaction fees dropped to $0.79

To the great joy of crypto enthusiasts, Bitcoin transaction fees have become significantly lower. As of February 21, it reached $0.79, which is 40 times less than the usual $34. This mark was set at the end of last year.

The variability of the exchange rate and high transaction fees have led to the fact that many Internet companies, including the Steam service, have stopped accepting digital currency as payment for goods and services.

At the moment, the problem has been resolved, not without the help of active members of the crypto community. Users began to make multiple payments in one transaction, some of them completely abandoned Bitcoin and chose altcoins as payments.

The transition from one currency to another was also significantly influenced by the price slide, which dropped from $20,000 to $6,000. The rush of buyers fell, and the load on the network also decreased. 

Analysts note a slowdown in the upward dynamics not only for Bitcoin, but also for Litecoin and Ethereum. Also, problems are observed in IOTA, ZCash and some other tokens.

Skeptics predicted “February corrections” of the market, but this time it is more stable.

At the moment, the price of Bitcoin has crossed $10,000. Experts are arguing about what to expect from the Bitcoin rate. Most of them predict that the currency will rise by the beginning of this summer.