CRYPTO  

Bitcoin transaction fees at 3-year lows, a signal of bear market?

Though the cryptocurrency market has turned inexperienced general right now, some crypto consultants are seeing alerts that the present bearish development could persist for a while, not less than for the market’s flagship digital asset – Bitcoin (BTC).

Particularly, Bitcoin transaction charges are presently at traditionally low ranges, ranging on the identical ranges final witnessed in September 2018, “proper earlier than the Nov 2018 capitulation,” in keeping with a tweet printed on June 8 by the outstanding crypto analyst Ali Martinez.

Adjustments in Bitcoin charges over time. Supply: Ali Martinez

Certainly, the chart he posted alongside helps the data from the tweet, through which Martinez additionally states that “transaction charges are inclined to rise in an uptrend/bull market,” indicating that we could possibly be in for extra bearishness trying forward.

These developments are occurring in the meanwhile when Segregated Witness (SegWit) – a change within the transaction format, fee batching, and Lightning Community “are in full impact on the Bitcoin community.”

Damaging sentiment however an indication of hope?