Every time the BTc fees have spiked to the red line has marked a top in the market (stating the obvious here) also noticed that the fees hit a low in 2015 at around 3 cents but in 2019 (about) hit a low of 19 cents and here just recently in 2022 hit a low of 62 cents:/ the trend seems like fees will keep getting worse let’s see if fees can breach the Dxy (lol)
Let's look at an on chain metric: the mean transaction fee in USD for Bitcoin since inception.
We can see there's a clear correlation between the mean fees and price. When transaction fees go up, so does the price and vice versa. What we can conclude from Bitcoin's all time history is that fees peak out at all time high, this could be because of big players...
This is my personal observation and opinion, Crypto is highly speculative market.
But if this does not make sense then you can just ignore and if it does makes sense then great. In either case please do let me know what you think.
