• Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, August 20, 2022
Digital Coin News
  • Home
  • Crypto Social
  • News
    • Bitcoin News
    • Altcoins
  • NFT’s
    Buterin says Terra recovery should target smaller holders

    Vitalik Buterin Wants To Upgrade NFTs, Crypto Community Opposes Proposal

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

  • Metaverse
    The Sandbox Launches Alpha Season 3 This August

    The Sandbox Launches Alpha Season 3 This August

    Virtual Showrooms: The Future of Retail in the Metaverse

    Virtual Showrooms: The Future of Retail in the Metaverse

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Mirror Worlds: Merging The Metaverse With The Real World

    Mirror Worlds: Merging The Metaverse With The Real World

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Decentraland's Third Metaverse Art Week To Go Live This Month

    Decentraland’s Third Metaverse Art Week To Go Live This Month

    Metaverse 101 with Meta Starring Keke Palmer

    Metaverse 101 with Meta Starring Keke Palmer

    Experience Ghosts Metaverse in Decentraland

    Experience Ghosts Metaverse in Decentraland

    Samsung Launches 'Space Tycoon' As Metaverse Contributions Continue

    Samsung Launches ‘Space Tycoon’ As Metaverse Contributions Continue

  • Analysis
    bitcoin

    Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    Bitcoin

    Bitcoin Price Showing Early Signs of Fresh Downtrend, But $22.5K Is The Key

    Ethereum

    Ethereum Uptrend Vulnerable Unless It Surges Past $1,900

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    bitcoin

    Bitcoin Price Must Clear This Level If It Wants To See $28,000

    Bitcoin

    TA: Bitcoin Price Won’t Go Down Quietly: Key Supports To Watch

    Ethereum

    Ethereum Could Take Hit As The Bulls Show Weak Hands

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

  • Learn About Crypto
    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    Common Crypto Mistakes To Avoid

    Common Crypto Mistakes To Avoid

    eCash (XEC) Price Prediction

    Circuits of Value (COVAL) Price Prediction

    eCash (XEC) Price Prediction

    Kishu Inu (KISHU) Price Prediction

    eCash (XEC) Price Prediction

    Bitcoin Standard Hashrate Token (BTCST) Price Prediction

    eCash (XEC) Price Prediction

    Optimism (OP) Price Prediction

    eCash (XEC) Price Prediction

    ICON (ICX) Price Prediction

    eCash (XEC) Price Prediction

    eCash (XEC) Price Prediction

    What Is USDT Tether Token?

    What Is USDT Tether Token?

  • Regulation
    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

No Result
View All Result
  • Home
  • Crypto Social
  • News
    • Bitcoin News
    • Altcoins
  • NFT’s
    Buterin says Terra recovery should target smaller holders

    Vitalik Buterin Wants To Upgrade NFTs, Crypto Community Opposes Proposal

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

  • Metaverse
    The Sandbox Launches Alpha Season 3 This August

    The Sandbox Launches Alpha Season 3 This August

    Virtual Showrooms: The Future of Retail in the Metaverse

    Virtual Showrooms: The Future of Retail in the Metaverse

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Mirror Worlds: Merging The Metaverse With The Real World

    Mirror Worlds: Merging The Metaverse With The Real World

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Decentraland's Third Metaverse Art Week To Go Live This Month

    Decentraland’s Third Metaverse Art Week To Go Live This Month

    Metaverse 101 with Meta Starring Keke Palmer

    Metaverse 101 with Meta Starring Keke Palmer

    Experience Ghosts Metaverse in Decentraland

    Experience Ghosts Metaverse in Decentraland

    Samsung Launches 'Space Tycoon' As Metaverse Contributions Continue

    Samsung Launches ‘Space Tycoon’ As Metaverse Contributions Continue

  • Analysis
    bitcoin

    Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    Bitcoin

    Bitcoin Price Showing Early Signs of Fresh Downtrend, But $22.5K Is The Key

    Ethereum

    Ethereum Uptrend Vulnerable Unless It Surges Past $1,900

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    bitcoin

    Bitcoin Price Must Clear This Level If It Wants To See $28,000

    Bitcoin

    TA: Bitcoin Price Won’t Go Down Quietly: Key Supports To Watch

    Ethereum

    Ethereum Could Take Hit As The Bulls Show Weak Hands

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

  • Learn About Crypto
    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    Common Crypto Mistakes To Avoid

    Common Crypto Mistakes To Avoid

    eCash (XEC) Price Prediction

    Circuits of Value (COVAL) Price Prediction

    eCash (XEC) Price Prediction

    Kishu Inu (KISHU) Price Prediction

    eCash (XEC) Price Prediction

    Bitcoin Standard Hashrate Token (BTCST) Price Prediction

    eCash (XEC) Price Prediction

    Optimism (OP) Price Prediction

    eCash (XEC) Price Prediction

    ICON (ICX) Price Prediction

    eCash (XEC) Price Prediction

    eCash (XEC) Price Prediction

    What Is USDT Tether Token?

    What Is USDT Tether Token?

  • Regulation
    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

No Result
View All Result
Digital Coin News
No Result
View All Result
Home Bitcoin News

Bitcoin Transaction Cost Plummets After Every 4 Years, Is there A Reason?

July 19, 2022
in Bitcoin News
0
Bitcoin Transaction Cost Plummets After Every 4 Years, Is there A Reason?
81
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Bitcoin emerged in 2009, making it a total of 13 years of operations. In all these years, experts have identified interesting patterns from watching its movement closely. Observers suggest that two factors usually evoke these patterns on the network, market conditions and investor sentiment. A change in either of these factors causes many events to unfold in the ecosystem.

The recent observation by these experts points towards a transaction cost reduction every four years. For example, the cost for one Bitcoin transaction was reduced to $56.846 on Thursday, July 14. This reduction indicates a four-year cycle of cost reduction on the network.

Related Reading | TA: Ethereum Outpaces Bitcoin, Why ETH Could Rise To $1,500

Initially, the cost of BTC transactions was usually unpredictable because it is derived using the number of transactions to divide the miner’s revenue. But now, the recent Blockchain.com data seem to have proven a more satisfying pattern for crypto enthusiasts.

Bitcoin Data Shows A Predictive Pattern

According to available data on cost movement, July 2022 saw a drop in transaction cost by more than 81%. This percentage was derived using May 2021 high transaction costs of $300.331.

Bitcoin Transaction Cost Plummets After Every 4 Years, Is there A Reason?
Bitcoin cost per transaction. Source: blockchain.com

The factors leading to such a spike in transaction costs was the reduction in on-chain transaction and a prolonged bear market. Then, many crypto investors struggled to operate amid regulatory challenges permeating the industry.

But now, it is clear that the upward and downward trend in transactions occurs every four years. Data revealed that this pattern first emerged in 2014, then the next one occurred in 2018, and now another one in 2022, showing a 4-year cycle.

Based on these data, experts predict that by 2026, another cycle will occur and might cause a fall to $50. On the flip side, miners are losing revenue, which has worsened since 2022. According to reports, July 2022 has been the worst miners have seen in 2 years.

Market Crash Affects Miner’s Revenue

It’s not surprising that miners recorded a loss in revenue in July 2022. The crypto market hasn’t performed very well since the announcement of a rate increase, activation of the rise, and the crash of the Terra network.

Related Reading | Liquidations Cross $230 Million As Ethereum Barrels Past $1,400

These events have contributed terribly to the falling market prices. As a result, miners now spend more on operating costs in Bitcoin mining.

Bitcoin Transaction Cost Plummets After Every 4 Years, Is there A Reason?
After the upwards move, Bitcoin has been moving sideways | Source: BTCUSD on TradingView

Thankfully, the market saw a fall in GPU prices, providing a ray of hope for miners. By that, miners can get hardware at affordable prices, reducing operational costs.

Bitcoin Transaction Cost Plummets After Every 4 Years, Is there A Reason?
GPU price action over the few years. Source: TechSpot

The price at which miners buy their hardware fell by 15%. This is because many card manufacturers started operations again after closing shop for some time due to a chip shortage. Now, the supply of these graphic cards is higher than its demands causing many cards to sell below MSRPs to fight cut-throat.

Featured image from pixels, charts from TradingView.com

Source link

Tags: BitcoinCostPlummetsreasontransactionYears
Previous Post

Reserve Bank of India renews calls for crypto ban

Next Post

Bitcoin (BTC) Bottomed? Here’s What Grayscale’s Report Say

Next Post
Bitcoin price undervalued

Bitcoin (BTC) Bottomed? Here's What Grayscale's Report Say

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

Third BitMEX Co-Founder Pleads Guilty to Violating Bank Secrecy Act

Third BitMEX Co-Founder Pleads Guilty to Violating Bank Secrecy Act

March 11, 2022
Bitcoin

Bitcoin Spot To Derivatives Flow Forms Historical Bullish Pattern

June 10, 2022
New crypto owners nearly doubled in 3 key regions in 2021: Report

New crypto owners nearly doubled in 3 key regions in 2021: Report

April 4, 2022

Browse by Category

  • Altcoins
  • Analysis
  • Bitcoin News
  • Learn About Crypto
  • Metaverse
  • NFT’s
  • Regulation
Digital Coin News

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Metaverse, NFT Market, and more.

CATEGORIES

  • Altcoins
  • Analysis
  • Bitcoin News
  • Learn About Crypto
  • Metaverse
  • NFT’s
  • Regulation

RECENT POST

  • South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official
  • Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected?
  • Huobi explains what went wrong with HUSD after stablecoin is back on track
  • Contact
  • Privacy Policy
  • Terms & Conditions

© 2022 Digitalcoinnews.com - All rights reserved.

No Result
View All Result
  • Home
  • Crypto Social
  • News
    • Bitcoin News
    • Altcoins
  • NFT’s
  • Metaverse
  • Analysis
  • Learn About Crypto
  • Regulation

© 2022 Digitalcoinnews.com - All rights reserved.

  • bitcoinBitcoin(BTC)
    $21,155.00-7.22% 24H
    BITCOIN
    24H : -7.22%
    Volume : $34,560,572,332.00
    Marketcap : $404,619,834,035.00
  • ethereumEthereum(ETH)
    $1,633.20-10.55% 24H
    ETHEREUM
    24H : -10.55%
    Volume : $22,827,647,432.00
    Marketcap : $196,259,479,700.00
  • tetherTether(USDT)
    $1.000.050% 24H
    TETHER
    24H : 0.050%
    Volume : $62,147,828,585.00
    Marketcap : $67,650,106,184.00
  • usd-coinUSD Coin(USDC)
    $1.000-0.05% 24H
    USD COIN
    24H : -0.05%
    Volume : $7,376,024,732.00
    Marketcap : $52,417,687,230.00
  • binancecoinBNB(BNB)
    $285.40-2.36% 24H
    BNB
    24H : -2.36%
    Volume : $1,694,864,469.00
    Marketcap : $46,599,729,776.00