Opinion: Bitcoin transaction rates will no longer reach 2017 levels

On June 3rd, Bitrefill CEO Sergej Kotliar cited the differences between the current bull market and the 2017 bull market. In December 2017, compared to the current, the bitcoin transaction rate at that time was unusually high. On December 26, 2017, the highest was 1034.57 sats/byte, and on June 1, 2019, it was only 188 sat/byte. Kotliar said that due to various developments in the industry over the past 18 months, such high costs will never reappear. He said that the current surge is mainly due to the increase in traffic between exchanges, not because of indirect transactions. People are now more aware of the cost issue, and most exchanges introduce lightning networks, Liquid and altcoin to help expand the overall size of the cryptocurrency. “So there is no reason to think that the level of 2017 will return soon. On the contrary, once the exchange opens the Lightning Network or Liquid, these peaks will disappear. But in any case, it is meaningful to expand what we can expand. Several companies are still standing out."