For several months the the cryptocurrency market is in decline. The price of the first cryptocurrency, Bitcoin (BTC) has stabilized at around $ 20,000 in recent weeks. But for a week the price of Bitcoin has soared until it reaches a price we haven’t seen for a long time, $ 23,000 / $ 24,000. So is this a new opportunity to start Bitcoin or should we be wary of this increase? Let’s see it together through this article.
Is it the right time to start mining Bitcoin?
As explained above, a recent spike in the price of Bitcoin has emerged given the price go up from $ 20,000 to $ 24,000. So now is the right time to start mining Bitcoin? Explanations.
The difficulty of mining the first cryptocurrency, Bitcoin (BTC) has recently experience the biggest decline in a yearwhich greatly helps various miners to increase their profitability during this bear market.
What is the current difficulty for Bitcoin mining?
The current difficulty in Bitcoin mining has down 5% yesterday during the day. This brought him to 27.69T. For information, the latest date on which thehas difficulty mining bitcoin has decreased at least last July 18th, when it was only 13.67T.
Indeed, this fall followed a substantial decline of around 28% in the previous two weeksmaking it currently the biggest drop in the network’s history of the first cryptocurrency, Bitcoin (BTC).
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It is therefore relatively interesting to start mining Bitcoin in this period of decreasing difficulty, always bearing in mind that it is it is strongly recommended that you inquire properly before making major investment decisions.