CoinMetrics analyst Nic Carter predicted that the Bitcoin mining challenge could drop surprisingly 15 percent during the next tuning. This may be the third largest drop in all history of Bitcoin.
So the next difficulty adjustment due in 4 days will reduce difficulty by 13-15%, assuming nothing changes. This will likely be the 3rd or 4th greatest reduction in difficulty in Bitcoin history pic.twitter.com/vdghykvef is
– nic “stomp the curve” carter (@nic__carter) March 21, 2020
Set to Fall
As reported earlier, the bitcoin mining challenge hit 16.55 TH, the all-time high on March 10. After the historic price drop on March 12, many miners had to close their equipment because they no longer bring profit. But the expected drop in difficulty can get them back to work. It is worth noting that, according to blockchain data, the hash rate of Bitcoin has dropped to 82 TH / s due to miner’s capitulation.
Does This Mean An Ascension For Bitcoin?
Carter also stated that every major negative difficulty adjustment will mark the bottom of every price correction as ‘anecdotal’. So there is a good reason to believe that BTC may be ready to continue its upward trend. This is also compatible with one of the most reliable purchase signals, the hash ribbon crossover.
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
