Bitcoin’s mining difficulty went through another positive readjustment leading to a new ATH, similarly to the hash rate. BTC’s price, though, keeps dumping.
While bitcoin’s price went through another steep correction in the past 24 hours, the network’s robustness only increases. The BTC hash rate recently tapped a new all-time high, while the mining difficulty went through a 9% positive adjustment, leading to a peak of its own.Ever since the summer of 2021, when the Chinese authorities ousted bitcoin miners and the hash rate dumped by 60% in weeks, the metric has been gradually recovering the lost ground.
However, Satoshi Nakamoto predicted a similar possible scenario when setting up the network and incorporated a feature called mining difficulty adjustment. Essentially, it makes it harder for miners to do their job depending on how many of them are currently online. It readjusts every 2,016 blocks .
Positive adjustments mean that the number of miners has increased, and vice-versa. For example, after the Chinese ban, the network experienced severe delays as there were fewer miners, and it had toNow, though, the landscape is entirely different. In the past 14 readjustments, there was only one negative on November 28th. The last positive one, which occurred hours ago, increased the difficulty by 9.32%, which actually led to a new all-time high for this metric.
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Despite the Price Crash: Bitcoin Hash Rate and Mining Difficulty at ATHBitcoin's mining difficulty went through another positive readjustment leading to a new ATH, similarly to the hash rate. BTC's price, though, keeps dumping.
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
Despite the Price Crash: Bitcoin Hash Rate and Mining Difficulty at ATHBitcoin's mining difficulty went through another positive readjustment leading to a new ATH, similarly to the hash rate. BTC's price, though, keeps dumping.
Source: CryptoPanicCom - 🏆 563. / 51 Read more »
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Bitcoin Mining Difficulty Sets New All-Time HighMining difficulty on the Bitcoin network increased by 9.32% and hit an all-time high of 26.64 trillion on Jan. 21. egreechee reports. egreechee egreechee Good egreechee This is good news and the priced dropped.
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Bitcoin network difficulty jumps more than 9% to new all-time highBitcoin's network mining difficulty has risen by more than 9%, marking the biggest difficulty adjustment since last summer. nilesh_rohilla mpmcsweeney Dump this shit mpmcsweeney Just go short and then buy back later. A long-term downtrend that doesn't know when to turn up, the Fed and US stocks put pressure again. Don't listen to CZ or Elon Musk and some others, because they have plenty of time and money down until 2025 they are still not affected😂 mpmcsweeney I wonder if people understand Hashrate isn't price support yet.
Source: TheBlock__ - 🏆 464. / 53 Read more »