When is the Bitcoin Mining Difficulty in 2020 (the most recent Bitcoin Mining Difficulty)?
When is the Bitcoin Mining Difficulty in 2020? On December 11, 2020, one of the
When is the Bitcoin Mining Difficulty in 2020? On December 11, 2020, one of the world’s largest cryptocurrency mining companies, Bitmain, announced that it would cease operations by the end of the year. According to official sources, since February 2019, an increasing number of listed companies and enterprises have joined this “computing power war”. The halving of mining machines in 2020 has become a consensus in the market. Since early 2018, the price of Bitcoin has dropped from $9,000 to around $6,000. However, with the ongoing pandemic and continuous increase in the price of Bitcoin, the overall network difficulty of Bitcoin is accelerating. According to Coinmarketcap data, “the average cost of Bitcoin this year is over 50 million RMB.” Since 2019, the price of Bitcoin has been showing a downward trend. As of now, the trading volume on the BTC.com platform is approximately $470 million, while the ETH/USDT trading volume has exceeded $300 million. The price of Bitcoin since the end of 2019 is only about $8,000. (Wu speaks blockchain)
The most recent Bitcoin Mining Difficulty
According to bitcoin.com, the most recent Bitcoin mining difficulty occurred in April 2018. Since March, the price of Bitcoin has dropped by more than 70%. Although many people consider this to be a disastrous event, it does not mean that it will not continue or even cause the collapse of the entire industry. There are also other reasons: the price of Bitcoin has been in a downward trend this year and has yet to reach its bottom. According to data from blockchain analytics company Glassnode, the overall network has more than doubled its computing power in the week ending September, and it has doubled since mid-December last year. Due to the overall stagnation of the cryptocurrency market, miners have shut down their equipment.
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