Bitcoin's latest mining difficulty correction reaches second highest level ever!

On May 5, the last pre-halving correction of Bitcoin's mining difficulty took place. It brought the rise, expected by many analysts, to the second [...] https://www.pinterest.com/pin/1085437947660215829/

On May 5, the last pre-halving correction of Bitcoin's mining difficulty took place. It brought the increase expected by many analysts, to the second highest level in BTC history. Bitcoin mining difficulty adjusts automatically every 2016 blocks or once every two weeks.  The entire process is based on available computing power. One step away from ATH On May 5, 2020, the Bitcoin network once again adjusted to the current situation. After the March drops, the difficulty was drastically reduced by 15.95%. Yesterday, the difficulty level was readjusted to 16.10T, an increase of 0.92%. Thus, we are now very close to the record level of March 9 (16.55 T). This is the second time ever that the 16 T level has been exceeded and the last sweep before the upcoming halving. After the drastic March drops in the price of BTC, many miners capitulated and the power of the Bitcoin network declined. As the number of miners increases, the difficulty increases. For many, this is a positive sign as it shows the strength of the network.   The charts above show the difficulty of BTC mining and the hashrate of the network, respectively. Each difficulty adjustment is cyclical, which is why the graph looks like a multi-level graph. After the halving, which will take place on May 12, only 900 new Bitcoins will be delivered to the market each day, instead of the current 1,800. The reduction in supply has generally had a positive effect on the BTC exchange rate. Unfortunately, with the reduction in the reward for mining a block, expect a drop in hashrate as miners' earned income will drop. What may dissuade them from capitulating is the price of Bitcoin. Currently, the average mining time per block is 9 minutes 55 seconds and the hashrate oscillates around 115 EH/s. While the May 5 rise was not spectacular (1% increase), history has seen rises of 100% or even 302.22% (Bitcoin's beginnings), which is certainly a good sign for the upcoming halving. As for more significant declines, for that matter, the March difficulty drop of 15.95% mentioned in the article was the second largest in Bitcoin's entire history. Tags hashrate computing power difficulty of digging