Bitcoin’s hashrate fell this week to altitudes of 685,440 and its most negative drop of the year, a nearly 16% drop.Overall, the global hashrate is down about 2% as prices drop below. At the $ 40k handle, mining difficulty is currently estimated at 21 trillion, and could be further reduced by 16% in less than two weeks.
Bitcoin mining difficulty slides to 16% after 2021’s biggest difficulty increase.
The bitcoin (BTC) price has seen an improvement in the day, and after the price drop, the hash rate also slowed to a certain extent on May 29, 2021 at block height 685,440. Bitcoin is down 15.97%, the biggest drop in 2021.
It was also in line with the greatest increase in difficulties in 2021, occurring at block heights of 683,424.At that time, the hashrate increased by more than 21.5% and the global hashrate was approximately 179.2 EH. / s on May 13
Now, the mining difficulty is expected to decrease even more in 12 days, approximately 15.69%, according to the data. The decrease in percentage equates to a decrease in difficulty from the current 21.05 trillion difficulty to 17.75 trillion. The difficulty is down 16% to. Big swing, seeing how the biggest drop in 2021 was around 12.6%, while at the time of publishing, Bitcoin’s hashrate was around 135 to 150 EH / s.
In 3 years, the difficulty of Bitcoin has increased 72% of the time.
The overall hash rate has dropped about 2% as it has dropped below $ 40,000 per BTC, but since May 9 it has dropped about 35% from 214 EH / s to 135 EH / s with reduced difficulty. Dedicated hash to the BTC chain, 20 mining pools are currently processing BTC blocks and F2pool orders the top with 23.25 EH / s or more than 15% of the hash rate.
F2pool was followed by Viabtc, Btc.com, Antpool, Poolin, Binance Pool, Foundry USA, and 1thash.Since January 2018, the Bitcoin network has seen 91 successive changes in difficulty, and only 25 of them have dropped. This means that over the past three years, more than 72% of the time, the difficulty has increased every two weeks.
What do you think about the nearly 16% reduction in bitcoin’s mining difficulty? Let us know what you think about it in the comments section below.
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