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Relief to Bitcoin Miners as Difficulty Set For Largest Drop in Five Months

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Bitcoin (BTC) mining difficulty is now estimated to drop in six days, offering relief to miners, squeezed by the market crash and the current record-high mining difficulty.

The next adjustment will see the difficulty, a measure that shows how hard it is to compete for mining rewards, go down by 5.8%, which is the largest drop seen in almost five months – since -7.10% recorded on November 8, 2019, according to major Bitcoin mining pool BTC.com estimations. Ten days ago, it estimated that the mining difficulty will climb 7% to 17.71 T during this next adjustment.

Between November and today, BTC.com recorded only two drops in difficulty, both less than 1%. Should it indeed go down as currently estimated, BTC mining difficulty will stand at 15.60 T, close to where it was in February. However, the number might be even lower, as the estimation is now being constantly revised down.

@TradeCryptoNow
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