16.11.20 [Přehled trhu + BTC] New record for BTC! Network congested, Bitcoin is growing! ATH at your fingertips!

The average fee for bitcoin network transactions reached USD 2.94 on April 30 – the highest in ten months! What does it look like on the chart? Is there a chance that ATH will be broken this year?

Selected coins from the top capitalization for yesterday:

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BTC / USD

The average fee for bitcoin network transactions reached USD 2.94 on April 30 – the highest in ten months! Once the network becomes congested, users have to pay higher fees to get to the next block – which in turn increases the fees.
Data from Bitinfocharts shows that transaction fees in the bitcoin network rose to a maximum of $ 2.94 on April 30 – a level not observed since July 2019.

High fees, although probably not ideal in any situation, can be considered for confirming the increased demand for space in the bitcoin network.

Up to 125% appreciation for 2020! Bitcoin is experiencing its best year since the last major drop in 2017. We are currently above $ 16,000 and are within reach of ATH at $ 20,000. Demand for Bitcoin does not seem to be dwindling and we are growing every week. Opponents of Bitcoin will also be found, especially in situations where transaction fees are rising! Critics may point to the inefficiency of the digital payment system, where payment confirmation takes several hours. Due to such high fees, bitcoins are unnecessary, for example, for making micropayments.

We are currently seeing resistance to $ 16,500 in two weeks. We then have a monthly resistance of 17,500 USD. We see support in the 2-week chart at $ 15,800-15,500 and monthly support at $ 15,100.

ATTENTION: No data in the article is an investment board. Before you invest, do your own research and analysis, you always trade only at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!

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