19 days to a much-awaited Bitcoin halving, observers estimate that the network’s difficulty could be adjusted to an all-time high barely a six weeks after its algorithm chopped it by 16 percent, the third largest drop in Bitcoin’s short history.
Hash Rate Matters
However, this is subject to hash rate.
Hash rate is nothing more than the total computing power enabling transaction confirmation and security of the network. Bitcoin, as you may be aware by now, is secured by different nodes spread across the world.
Because mining is an energy-intensive process and electricity cost is expensive, most of the network’s hash rate is generated from Bitcoin mining farms in Northern China and remote zones in the United States. Read More