January 23, 2021

Bitcoin mining difficulty increased by 11%

Bitcoin mining difficulty increased by 11%

On January 9, the difficulty of mining bitcoin increased by 11% and is now over 20 trillion.

All over apparently, the difficulty setting has not yet had a negative impact on the miners.

The BTC hash rate continues to rise along with the price increase - this week it reached a new all-time high of 149.652 EH / s, and the growing difficulty of mining will continue to push the hash rate up.

Bitcoin mining difficulty increased by 11%

However, more complex mining has another negative consequence - an increase in BTC sales.

The special Miners' Position Index [MPI] shows the positions of miners and their impact on the price of BTC.

If the scale shows a mark of 2, it means that miners are selling the bitcoins received as a reward, and negative values ​​indicate that they are holding BTC and are waiting for a better moment to sell.

At the moment, MPI is at 4,which suggests that miners are very active in selling at this level. According to ByteTree, miners earned 7,050 BTC last week and sold 10,840 BTC.

Bitcoin mining difficulty increased by 11%

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According to the materials ambcrypto.com