11-26-2020, 11:31 AM
Did You Notice? Bitcoin is Almost at $20K and Fees are Still Ridiculously Cheap
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/k0scup/did_you_notice_bitcoin_is_almost_at_20k_and_fees/"> <img src="https://b.thumbs.redditmedia.com/fc8_j-Ol4ZfNmpHPm7jVBIZVYt6rYkk5n5cE2pN1DfU.jpg" alt="Did You Notice? Bitcoin is Almost at $20K and Fees are Still Ridiculously Cheap" title="Did You Notice? Bitcoin is Almost at $20K and Fees are Still Ridiculously Cheap" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>This in my opinion is a simple way for anyone to understand that the current price action is way different from what we saw in 2017.</p> <p>During the last ATH, many people were already heading for the exits once Bitcoin crossed $10k. That caused heavy price volatility, a spike in transaction fees, and longer confirmation times <strong>(Some had to wait for up to a week for their transaction to confirm.)</strong></p> <p>​</p> <p><a href="https://preview.redd.it/a9vc4qmf3e161.png?width=1200&format=png&auto=webp&s=17fe69a618f98cdc4f36975fd253958392411c4e">Average Confirmation Time in 2017 vs Now</a></p> <p>Some people paid over $50 USD in fees at a point, and miners got filthy rich.</p> <p>​</p> <p>Fast forward to 2020, Bitcoin is at $19200, fees are still very cheap, the network is not clogged.</p> <p>What Changed?</p> <p><strong>Did the Bitcoin Network Become More Efficient?</strong></p> <p>Nah</p> <p>It simply means that the current crop of Bitcoin investors differs from the 2017 retail crowd. </p> <p>These current crops are mainly investors whose perception of an ideal exit price is significantly higher. They're not ready to let go at $19k and I don't know at what price they will.</p> <p>But one thing for sure is that the longer they hold, the more FOMO kicks in and the real retail folks will jump in. </p> <p>How high can we go?</p> <p><a href="https://coinfomania.com/bitcoin-fees-cheap-despite-20k/">https://coinfomania.com/bitcoin-fees-cheap-despite-20k/</a></p> </div><!-- SC_ON --> Kind Regards R
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/k0scup/did_you_notice_bitcoin_is_almost_at_20k_and_fees/"> <img src="https://b.thumbs.redditmedia.com/fc8_j-Ol4ZfNmpHPm7jVBIZVYt6rYkk5n5cE2pN1DfU.jpg" alt="Did You Notice? Bitcoin is Almost at $20K and Fees are Still Ridiculously Cheap" title="Did You Notice? Bitcoin is Almost at $20K and Fees are Still Ridiculously Cheap" /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>This in my opinion is a simple way for anyone to understand that the current price action is way different from what we saw in 2017.</p> <p>During the last ATH, many people were already heading for the exits once Bitcoin crossed $10k. That caused heavy price volatility, a spike in transaction fees, and longer confirmation times <strong>(Some had to wait for up to a week for their transaction to confirm.)</strong></p> <p>​</p> <p><a href="https://preview.redd.it/a9vc4qmf3e161.png?width=1200&format=png&auto=webp&s=17fe69a618f98cdc4f36975fd253958392411c4e">Average Confirmation Time in 2017 vs Now</a></p> <p>Some people paid over $50 USD in fees at a point, and miners got filthy rich.</p> <p>​</p> <p>Fast forward to 2020, Bitcoin is at $19200, fees are still very cheap, the network is not clogged.</p> <p>What Changed?</p> <p><strong>Did the Bitcoin Network Become More Efficient?</strong></p> <p>Nah</p> <p>It simply means that the current crop of Bitcoin investors differs from the 2017 retail crowd. </p> <p>These current crops are mainly investors whose perception of an ideal exit price is significantly higher. They're not ready to let go at $19k and I don't know at what price they will.</p> <p>But one thing for sure is that the longer they hold, the more FOMO kicks in and the real retail folks will jump in. </p> <p>How high can we go?</p> <p><a href="https://coinfomania.com/bitcoin-fees-cheap-despite-20k/">https://coinfomania.com/bitcoin-fees-cheap-despite-20k/</a></p> </div><!-- SC_ON --> Kind Regards R