Bitcoin mining difficulty droped by 0.97% to 83.13 T, indicating that it might be halved in April 2024. With an average hashrate of 599.71 EH/s, block intervals were affected at 10 minutes and 7 seconds. According to Glassnode’s data, there was a correction to 586.1 EH/s after the recent peak of 614.9 EH/s on March 24.
The 24-hour hash price increased from $108 to $110 per PH each day, according to Hashrate Index. The average hashrate reached 600.72 EH/s on March 14, and mining difficulty reached a record of 83.95 T. Since then, it has increased by 5.79%.
Experts from Bitfinex emphasized the effects of institutional finance, which favors larger miners over individual ones and improves network security while changing incentive programs. This tendency of professionalization has consequences for the dynamics of Bitcoin in the future.
These changes show how Bitcoin is still evolving, striking a balance between institutional investors’ increasing power and accessibility for ordinary miners, which could change the cryptocurrencycurrency market.
