The data shows that in the short term, Bitcoin users may not care about the sharp increase in transaction costs.

According to LongHash on August 4, based on various available data, in the short term, Bitcoin users may not care about the substantial increase in transaction costs, because this bitcoin is still in the early stages of development, and its focus is to become a credible Non-political means of value storage. In the frenzy of around-encrypted assets in 2017, there is a clear correlation between exchange volume and chain transaction costs, and similar trends can be found when looking at the same data for the past year. As shown, in the most volatile period of the bitcoin market in the past year, both trading volume and transaction costs have risen simultaneously. This includes bitcoin prices that bottomed out in late November last year, causing miners to surrender. Bitcoin's price rose 17% on April 1st, Facebook's Libra announced further bitcoin prices in early May, and accompanied by various regulations in late June. Worried about price fluctuations. The data shows that Bitcoin's chain transaction fee market is clearly determined by the speculative level surrounding the daily price of Bitcoin. The Chainalysis data also shows that in the past three years, about 90% of the activities of the Bitcoin network have been linked to exchanges. So, for now, high transaction costs seem unlikely to prevent many new users from using Bitcoin.