Yes, this was the same case for bittrex yesterday, not sure about now though.
If this will continue people will only hodl Bitcoin soon lol
No, if this continues we are going to have a big problem.
Not so much "hodling" but people will stop using bitcoin.And once business stop getting customers with bitcoins payments they will stop accepting bitcoin.
And if we reach this point there is no other way left that going down and abandoning ship.
Nobody will bother with
BTC payments if they get one customer a week.
Once you can't spend the coins you are going to do what with them? Just use them for international transfers?
That objective is so lame thinking at the point we are how it looks like a total failure.
This is a pretty big problem with bitcoin recently, they have been a huge price rise and with this huge price rise the transaction fees have almost doubled in value. More and more bitcoin is starting to looks like it is only useable for the rich, since a 5 dollar fee is huge for someone who doesn't have a lot of money
Just use a lower fee if possible, it should lower costs but you will have to wait longer.
Nothing to do with the price.
Between august 5 and 10th the recommended transaction fee dropped to 120 satoshi/b. Now it is at 280/s.
It'a all about the demand for space in the next block.