Bitcoin (BTC) transaction fee history up until January 17, 2024

Bitcoin transaction fluctuated significantly as more users started to display interest in the cryptocurrency in late 2020 and early 2021. Transaction fees refer to the money paid to Bitcoin's miners to get transactions accepted and costs increases can occur when user numbers increase: As the blockchain has limited space available to process all the transactions, it effectively becomes congested. Growing transaction fees therefore represent both the number of Bitcoin transactions that are waiting in line to be processed, but are also meant as an incentive to miners to process the especially large transactions - as they are more profitable for them. The number of Bitcoins processed on a single day reached its highest value at the beginning of 2021