Bitcoin Difficulty Increases Again This is the eighth time in a row. Since the Chinese ban
Analyst Rafael Schultze-Kraft explains:
“…Bitcoin mining difficulty has increased by 7.8%, it is the 8th consecutive increase in difficulty since the Chinese ban and the massive hash rate adjustment…”
But this is a bull market condition. Due to the increasing difficulty of mining leads to a decrease in supply. which if demand increases The price is also expected to increase.
Bitcoin mining is still very impractical in China. This can be seen in a number of events, such as the Chinese authorities disconnecting BTC mining sites in Sichuan in June. As a result, China’s crypto mining capacity has dropped by more than 90%.
however This probably won’t have much impact. Since most of the Bitcoin mining bases have already moved to the US.
After hitting an all-time high of $66,900 on Oct. 20, Bitcoin has started a price reversal. It is approximately $61,505 during intraday trading.
Jan Wuestenfeld believes that something is slowly brewing. Analysis of BTC’s 7-Day MA shows that it is gaining momentum in the price.
An analyst has said:
“…Bitcoin’s 7-day MA has been pretty stagnant over the past few weeks. But now it’s increasing again. But it’s still below the level we’ve seen this year. Or will this be a sign of something?…”
Meanwhile, Burger King restaurants have taken the initiative to hand out over $2.5 million worth of cryptocurrencies.
The reward will come from 20 Bitcoin, 200 Ether and 2 million Dogecoin if the customer spends more than $5 on the restaurant app.
Burger King points out that the project was born out of a desire to reward and reward customers with exciting and unique offers.