Notice how when the price of BTC jumped so did the transaction volume. And as usual, there is a backlog. BTC cannot support the volume of transactions needed to support a high price.

BTC has a beautiful mechanism to guarantee it will never sustain above $20K - called the "fee market". At high transaction fees the price momentum will die. I picked $20K because that's what we saw last year.

submitted by /u/ThenAskMe
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source https://www.reddit.com/r/btc/comments/a80bfz/notice_how_when_the_price_of_btc_jumped_so_did/