Bitcoin prices have improved a great deal in recent times and the network’s hashrate remains higher than it was 67 days ago when it tapped a low of 69 exahash on June 28. Today, statistics show Bitcoin’s hashrate has increased more than 92% since then and the network is due for another increased difficulty change in four days.
Bitcoin’s Hashrate Improves a Great Deal in 2 Months
Bitcoin has risen more than 7% in fiat value during the last seven days and has a market capitalization of over $950 billion on Friday. At press time, three month hashrate stats from coinwarz.com shows BTC’s hashpower has increased a great deal since the end of June.
At that time, bitcoin miners from China were facing a crackdown from the government and were forced to relocate to other countries. BTC’s mining difficulty, however, started dropping well before the low drop to 69 exahash per second (EH/s). At the end of May, the difficulty slid by 15.97% and two weeks later another 5.3% decrease took place.
After the hashrate shuddered to 69 EH/s, the Bitcoin network saw the largest epoch mining difficulty decrease in the protocol’s lifetime. On July 3, 2021, the mining difficulty decreased by a whopping 27.94 % and two weeks later it dipped again down 4.81% on July 17.
After this time, during the course of the rest of July and throughout August, BTC’s price and hashrate saw a great recovery. The
