Bitcoin Mining Difficulty Reaches New High

Bitcoin’s mining difficulty has risen to an all-time high of 86.4 trillion. This amounts to an increase of almost 4% just a few days before the halving on Saturday, April 20.

Bitcoin halving

The difficulty level in bitcoin mining is a measure of how difficult it is for miners to add a new block to the bitcoin blockchain. Every 2,016 blocks, approximately every two weeks, this difficulty level is adjusted. The adjustment is built in to ensure that it takes approximately ten minutes to mine a block.

The fact that this continues to rise is a signal that the rat race of mining companies is in full swing. Miners are companies that provide computing power to the bitcoin network to secure the network and verify transactions. So despite the bitcoin halving, which halves the reward per block for miners, miners continue to invest heavily in computing power. These continuous investments in mining have a positive impact on the market value of bitcoin. This weekend there was a big price dip, but the price is climbing back up above $66,000.

Price predictions

Market watchers like Robert Kiyosaki, author of “Rich Dad, Poor Dad,” remain optimistic about the future price. In fact, he believes bitcoin could rise to $2.3 million per coin. He also has his own interest in this, because Kiyosaki himself is the holder of many bitcoins.