Bitcoin hits $1866.99 USD WHAT?! – Are prices due to delays in transactions?

What is going on with the bitcoin network?  I have noticed more and more delays in payments.  With people’s transactions stuck in mempool limbo the price on the very active and alive exchange keeps raising the price.  The reason the price is going up is simply because there is not enough “fluid” bitcoin to be passed around.  This “fluid” bitcoin is what refills daily bitcoin users wallets and keeps their businesses running.  They are buying X amount of USD in bitcoin no matter what the daily ticker price says.  So if the price is $1500, $1600, even $1866.99, then they are going to buy.  Then they are going to wait because the network is at its peak of transactions and the blockchain limit on block is still 1 MB.  Those transactions not lucky enough to be included in that 1 MB will be stuck in the mempool awaiting their transaction to be among the other transactions on the next block which could take up to one hour!

 

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