A new recalculation of the difficulty of mining the first cryptocurrency shows that the indicator has grown by 1.16% and reached 43.55 trillion hashes, setting another record. The new difficulty record makes bitcoin mining more time-consuming and less profitable.
The previous record was set on February 25, when bitcoin mining difficulty reached 43.05 trillion hashes. The difficulty of mining in the network of the first cryptocurrency is recalculated about once every two weeks. The indicator depends on the network hashrate – the higher the indicator, the higher the complexity becomes. Miners mine a block once every ten minutes, not more often.
On March 24, the next change in mining difficulty should take place. According to market experts, the expected figure will be 45.42 trillion hashes (+4.29%).
Mining difficulty has been growing quite steadily since 2021, when the Bitcoin hash rate dropped significantly after the ban on mining in China, and difficulty followed the hash rate. But since then, the miners have moved the equipment and continue to buy new ones, so the hashrate is growing.
Earlier, the American stock exchange CME announced the launch of event-based futures contracts for bitcoin. In addition, the panic about American banks has subsided, so the BTC price has risen by 10%. On Monday, March 13, the first cryptocurrency was trading at $24,475. The growth was 9.6% per day. Trader and cryptocurrency analyst Michael van de Poppe noted that it looks like bitcoin has regained its bullish trend and will continue to rise. Unless macroeconomic factors intervene again.
