High Bitcoin fees are historically correlated to bull markets.
It's noticeable that in every bull market there seems to be a lot of new entrants. A frenzy takes place and people get extremely excited when they start seeing large increases in price. But what do fees have to do with the bull market and how are they related to the Bitcoin price?
How much of Bitcoin’s hashrate comes from S9 machines?
It has been around 8 years since the first ASIC hit the market and there continues to be more growth within the industry. New miner manufacturers are coming out every other year and continue to push the limits of efficiency.
