Bitcoin Fees Lowest in 15 Years... "Uptrend Rally is a Matter of Time"

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Bitcoin (Bitcoin, BTC) transaction fees have recently plummeted to their lowest level in 15 years, recording indicators similar to the network's early stages in 2011.

According to the cryptocurrency specialized media Bitcoinist on April 23 (local time), Bitcoin network fees are showing a record decline due to the deepening bear market and low transaction participation. Analyst Crypto Tice, citing Glassnode data, analyzed that the current fee level is a low point not reached since 2011, when the network was forming. Currently, the average Bitcoin transaction fee has dropped to around $0.22, breaking previous records.

The sharp drop in fees clearly demonstrates the lack of liquidity in the virtual asset market and decreased investor participation. As Bitcoin prices continue their downward trend recently, network activity has fallen to its lowest level in years, and fees have also plummeted along the same trajectory. However, experts diagnose that these indicators are not necessarily negative for the price. This is because, looking at past cases, Bitcoin bull runs tend to begin when the public feels all hope is lost.

The current low network congestion can serve as a springboard for future price surges. In a state of extremely low liquidity, even a small inflow of new funds can push prices up without resistance. Furthermore, with almost no fee burden, a pathway is open for investors to quickly re-enter the market during an uptrend. The Fear & Greed Index, a psychological indicator for market participants, is also recovering from 'Extreme Fear' to 'Fear,' indicating a gradual improvement in investor sentiment.

While Bitcoin price recovery may take some time, network indicators suggest it is approaching a bottom. The fact that Bitcoin supply on exchanges and network activity figures have reached their lowest points means that downward pressure has largely dissipated. The virtual asset industry views the decline in fees as a process of market cleansing and preparation for a new upward cycle, closely monitoring future capital inflow trends.

*Disclaimer: This article is for investment reference purposes, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*