【Viewpoint: The mature stage of the Bitcoin network is reflected in the stability of fees after the halving】 Golden Finance reported that since the beginning of 2024, Bitcoin transaction fees have been showing a fluctuating pattern, with significant spikes around major events. The most prominent surge occurred in April, associated with the Bitcoin halving event. During this period, transaction fees briefly soared to over 1,200 BTC, highlighting the increased demand on the network during this critical period. After the halving, fees stabilized but remained relatively sluggish, even as the price of Bitcoin approached $60,000. This is in stark contrast to previous years, when fee surges generally reflected rapid price increases or network congestion. For example, during the bull markets of 2017 and 2021, transaction fees soared along with the price of Bitcoin, reflecting intense activity and congestion on the network. The current trend is that fees remain low despite large price fluctuations, indicating a mature network where transaction processing may be more efficient. As 2024 progresses, observing whether this decoupling of fees and Bitcoin prices persists can provide insight into changing market trends and user behavior within the ecosystem.
