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Bitcoin Mining Difficulty, Hash Rate Surge As BTC Holds Above $8,000: What Death Spiral?
With BTC moving above $8,000, the fundamentals of the Bitcoin blockchain have also surged. As pointed out by industry researcher Kevin Rooke, Bitcoin’s mining difficulty has reached an all-time high of 7.46 trillion. The thing is, we’re still down by around 55% from BTC’s all-time high of $20,000, and public awareness of the cryptocurrency space is still much lower than it was back in 2017. For those unaware, mining difficulty refers to how hard miners need to work to solve one block.This comes after mainstream media, namely this one report from MarketWatch, called for a “death spiral,” whereas miners would ... (full story)