Bitcoin transaction fees drop by 92% from May

Bitcoin transaction fees drop by 92% from May

According to current data, you will only pay a fraction of the price for sending BTC compared to the previous month.

In May, the BTC network recorded a maximum fee of $ 6,647, which is a rapid drop to the current $ 0.557 and a positive change of – 91.62%.

As we can see on the chart from bitinfocharts, network had lowest fees in the first month of the year and the following months until May it was relatively stable. The biggest changes came from with the upcoming HALVING, which took place in May and fees rose significantly.

We last had similarly high fees in 2019 and 2018, and in both cases it was the sixth month, which is also interesting.

The highest fees for bitcoin transactions were in december in 2017 and climbed to $ 55.16, when BTC experienced bullrun and reached the highest price in history.

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