It is normal for the fees to rise with the rise in the bitcoin price, because the cost of the fees is calculated in satoshis / byte, so the higher the bitcoin price, the higher the fees.
No, it's not.
Stop with this thing, the price rose from 9k to 13k and the cheapest fee went from 1sat to 100sat/b.
Price doesn't matter, it's the capacity of the network that dictates how high transactions prices are going to go up
You will see that on Tuesday with the same price we're going to have transactions cheaper by at least 3 or 4 times both in $ and
BTCThis always happens when there is a sudden spike in the price. Most people are eager to send their bitcoins in or out of the exchanges and do some form of trading or holding.
Yeah, but right not it was the perfect storm. I don't know what's happening for real in China for certain but in the last 5 days, we had a tremendous drop in blocks mined. From an average of 10-11 minutes on the 25th we went to 12 then 13 then 14
https://bitinfocharts.com/comparison/bitcoin-confirmationtime.html#3m.
And guess when the mempool started to go up? Starting from the 26th.
https://jochen-hoenicke.de/queue/#0,1wDuring this time the price did spike up a little but nowhere near the jump we had on the 19-21 when the mempool was congested a bit but no that much with a peak of only 70k, half of the 150k we experienced yesterday.