Bloudmine

Cloud Mining

Cloud mining is the easiest and most effective way to make money from cryptocurrency mining without buying and maintaining your equipment.

Get access to real mining power without any extra effort

Blueprint

A perfect balance of exhilarating flexiblity and the effortless simplicity of the Code Supply Co. WordPress themes.

The ultimate publishing experience is here.

Bitcoin mining difficulty rises 3.4%, reaching new ATH

Bitcoin (BTC) network’s mining difficulty recorded a new all-time-high (ATH) on Oct. 23 as the difficulty increased by 3.4% to reach 36.84 trillion.

At the same time, the Difficulty Ribbon has started to compress, which historically indicates good buying opportunities.

Mining difficulty

The chart below demonstrates mining difficulty with the orange line. The final 3.4% spike recorded on Oct. 23 pushed the difficulty line up near the 160Z borders.

Bitcoin mining difficulty
Bitcoin mining difficulty

The last time Bitcoin mining difficulty increased was on Oct.10, when it spiked by 13.5%. As seen in the chart above, that spike was the most significant increase in Bitcoin difficulty throughout 2022.

Difficulty ribbon

The Difficulty Ribbon Compression uses 200-day, 128-day, 60-day, 40-day, 25-day, and 14-day simple moving averages of the Bitcoin mining difficulty to calculate the ribbon indicator.

Bitcoin Difficulty Ribbon
Bitcoin Difficulty Ribbon

The chart above demonstrates the difficulty of ribbon compression by the orange line. The difficulty ribbon has been moving within the green zone since nearly the year’s second half.

With the most recent difficulty adjustment, the difficulty ribbon compression increased and left the green zone. Historically, periods when the ribbon compresses have been good buying opportunities.

The post Bitcoin mining difficulty rises 3.4%, reaching new ATH appeared first on CryptoSlate.

This post was originally published on this site

Total
0
Shares
Leave a Reply

Your email address will not be published. Required fields are marked *

Prev
Kazakhstan among top 3 Bitcoin mining destinations after US and China

Kazakhstan among top 3 Bitcoin mining destinations after US and China

For over a year, the oil-rich Central Asian country of Kazakhstan has maintained

Next
Bitcoin Puell Multiple Continues Uptrend, Here’s What History Says Might Happen Next

Bitcoin Puell Multiple Continues Uptrend, Here’s What History Says Might Happen Next

On-chain data shows the Bitcoin Puell Multiple has been going up recently after

You May Also Like