What the Bitcoin halving actually does
About every four years, the reward for adding new blocks falls by half. It changes the rate of new supply, and its effect on price is debated.
Why bitcoin fees spike, then fall
Fees are an auction for limited block space, so they follow bursts of demand rather than the size of your payment.
An auction for space
Each block has limited capacity. Users compete by attaching fees, and miners generally prefer transactions paying the most for the space they use. A small payment can cost more than a large one if its data takes up more room.
Why it matters
During quiet periods, low fees may be enough. During a burst of demand, the same payment may cost much more or wait far longer. Fee income also matters to miners as block rewards shrink over time.
Sources
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