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.
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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