Bitcoin $BTC difficulty jumps to new ATH, BTC price tumbles below $16K Bitcoin
Bitcoin difficulty is a metric that demonstrates how it is difficult for Bitcoin miners to find the target hash, or, simply put, how difficult it is to add the next block to the main network.Today, on Nov. 21, 2022, Bitcoin difficulty, the most crucial indicator of BTC network performance, prints a new historical high. According to public trackers, it spiked to 36,950,494,067,222 T after a surprising +0.51% adjustment.
A year ago, Bitcoin mining was sitting at 22.5 T. Another crucial metric of the Bitcoin network, its hashrate is also going through the roof.On Nov. 12, 2022, it jumped over 298 quintillions hashes per second . By press time, this metric is at the 274 Ehash/s level, up 4% in the last 24 hours.Normally, surging metrics indicated the increased interest of miners in securing the network.
Meanwhile, on Monday, the Bitcoin price dropped to the lowest levels since the FTX/Alameda collapse. Briefly, it touched the $16,000 level and is now struggling to stay above it.
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