Since the Bitcoin price (BTC) dropped briefly in the noon yesterday, it has turned positive and is gradually approaching the $ 10,000 mark again. In the meantime, the set screws for the mining difficulty were readjusted.After a rapid ups and downs of just under $ 300 from $ 9,576 to $ 9,855 in the noon yesterday, the Bitcoin price (BTC) has since fluctuated in a range of $ 200 between $ 9,600 and $ 9,800. With an increase of 1.5 percent in the last 24 hours, the Bitcoin price is trading at $ 9,746 and claims a proud price gain of 10.7 percent over the week. The price target continues to be the important $ 10,000 mark that the Bitcoin price last exceeded at the end of February – shortly before the corona crisis depressed the markets.
Adjustment of the mining difficulty
Since the halving halved the Coinbase Rewards on May 11, i.e. block rewards for miners from 12.5 to 6.25 Bitcoin, the hash rate has been falling. The fall in the hash rate as the total computing power fed into the Bitcoin network indicates a current wide withdrawal of miners, for whom the mining of new blocks has become a loss-making business. Finally, in addition to transaction fees, the Coinbase Rewards represent the source of income for miners.