Bitcoin News

Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011
Capitulation? BTC Battered by Biggest Mining Difficulty Drop Since 2011

(BTC) currently sits at $6,370, a slight recovery from the March 27 pullback which saw the price drop nearly 9% in 4 hours. Despite showing some bullish signs, Bitcoin is still down nearly 30% since last Friday.

As previously reported by Cointelegraph, the crash may have been caused by the recent mining difficulty adjustment of nearly -16%. The difficulty adjustment is how the Bitcoin network adapts to the changing mining power on the network, keeping its issuance rate at a fairly steady level.

Continue Reading on Coin Telegraph

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Source: investing.com
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