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The history of Bitcoin average transaction fees reflects the evolution of the network\“s usage and scalability. Initially, fees were minimal due to low adoption, but as Bitcoin gained popularity, transaction volumes increased, leading to higher fees during peak periods. For instance, in 2017, fees surged dramatically during the bull run, averaging over $50 per transaction at times. This was driven by network congestion and limited block space. Over the years, improvements like SegWit and the Lightning Network have helped reduce average fees by increasing transaction efficiency. Today, Bitcoin fees vary based on demand, but they remain a key factor for users when sending transactions. Understanding this history helps users anticipate costs and appreciate the ongoing developments in Bitcoin\“s infrastructure. |
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