Recent data reveals that average Bitcoin (CRYPTO:BTC) transaction fees have surged past the $195 mark, marking a historic high.

This spike is attributed to heightened network congestion amid increasing user transactions.

While miners benefit from higher fees, everyday users may find Bitcoin transactions less appealing, especially for smaller amounts.

The rise in fees also raises concerns about Bitcoin's long-term viability as a payment method, potentially driving users towards alternative cryptocurrencies with lower fees and faster confirmation times.

Solutions like the Lightning Network are being developed to address these challenges, but widespread adoption remains uncertain, emphasising the need for collaboration within the Bitcoin ecosystem.