Since the most recent difficulty adjustment on Jan. 3, Since FTX’s demise, BTC price has increased 27%, trading above $21,000 for the first time.
The mining difficulty for Bitcoin (BTC) increased 10% from 34.09 T in January to a brand-new all-time high of 37.59 T. 15
According to Bitrawr data, this is the biggest difficulty increase since October 2022.
The significant increase on January 15 exceeded almost all of the network’s difficulty increases in 2022 — only surpassed When mining difficulty increased by 13.55% in October 2022.
Every two weeks (2,016 blocks), the mining difficulty, which describes how challenging it becomes to solve the cryptographic puzzle required to create a block on the Bitcoin network, changes.
The most recent difficulty upgrade for the blockchain occurred in January. 3, For the first time since FTX’s demise in early November 2022, BTC’s price soared 27% to trade above $21,000. Numerous analysts hypothesized that the uptick signaled the flagship digital asset was regaining bullish momentum following the record low it traded in 2022.
It is anticipated that the next mining difficulty change will take place between Jan. 27 and Bitrawr predicts that prices will rise by up to 25% starting on Jan. 29.
