I don't believe in charting to predict the future. Charts are about understanding past events - telling us a nice (hi)story through plotted data.
According to this chart, the speculative demand for nano is correlated with bitcoin fees. Suggesting users migrate to XNO's efficiency under high-fee environments.
Will that continue to happen in the future? Nobody knows.
Can other factors have influenced this observed correlation? Probably, yes.
But people who want to use peer-to-peer decentralized money will probably look for competitive alternatives if they can't use BTC in its current (or future) state.
Nano, and a few other competitors will always be there for these people. I personally know many who are already doing this.
I did it myself a few years ago, and I have no regrets, despite the price action.
I'm a user first, and I use cryptocurrencies daily - but I see no point in using Bitcoin because it doesn't meet my current demand for P2P self-sovereign currencies. It is as simple as that.
Source: XNOUSD vs. BTC_FEEUSD [1W]
* Nano is an open-source protocol, with its development led by a full-volunteering team, and run by a decentralized network. Nano is also a cryptocurrency with absolute zero fees and instant settlement (achieving finality in ~500ms). The cryptocurrency XNO also has no inflation, as all units were already fully distributed for free between 2015-2017 for anyone with access to a simple computer + internet.