{"id":21461,"date":"2023-08-23T07:53:38","date_gmt":"2023-08-23T07:53:38","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-difficulty-jumps-6-to-new-peak-as-miners-ignore-btc-price-dip\/"},"modified":"2023-08-23T07:53:40","modified_gmt":"2023-08-23T07:53:40","slug":"bitcoin-difficulty-jumps-6-to-new-peak-as-miners-ignore-btc-price-dip","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/bitcoin-difficulty-jumps-6-to-new-peak-as-miners-ignore-btc-price-dip\/","title":{"rendered":"Bitcoin difficulty jumps 6% to new peak as miners ignore BTC price dip"},"content":{"rendered":"
Bitcoin (BTC) network fundamentals are in no mood to follow bearish BTC price action this week.<\/p>\n
The latest on-chain data confirms that difficulty has hit new all-time highs, with hash rate not far behind.<\/p>\n
Despite BTC\/USD dropping 10% last week, Bitcoin miners appear to be taking the price downturn in their stride.<\/p>\n
This was cemented in network activity on Aug. 22, as difficulty increased by 6.17% at its latest biweekly automated readjustment.<\/p>\n
Not only was this enough to take difficulty to new record highs, it marked Bitcoin\u2019s sixth-largest difficulty uptick of 2023, figures from monitoring resource BTC.com show.<\/p>\n
Difficulty is a reflection of both miner competition and Bitcoin network security, and its upward trajectory suggests that miners are not yet struggling when it comes to profitability.<\/p>\n
The next automated readjustment is already due to continue the trend, taking difficulty over 56 trillion for the first time.<\/p>\n