Bitcoin latest news: Records all-time high network difficulty

The Bitcoin Network (BTC) has recorded a new biggest mining problem of all time of 26.643 trillion with an average hashing rate of 190.71 exahash per second (EH / s), indicating strong community support despite a steady bear market.

The difficulty of the Bitcoin network is determined by the total computing power associated with difficulties in confirming transactions and mining BTC. As blockchain.com proves data, network problems declined between May and July 2021 for a variety of reasons, including a general ban on cryptocurrency mining from China.

BTC network problems. Source: Blockchain.com.

However, as displaced miners resumed operations from other countries, network problems have recovered drastically since August 2021. As a result, the BTC network recorded 26.643 trillion ATH on 22 January.

Data from BTC.com estimates that the network will continue to strengthen by achieving another ATH in the next 12 days – with a network problem of 26.70 trillion.

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Estimated BTC network issues over the next 12 days. Source: BTC.com.

In the last four days, F2Pool has contributed the most to the compaction rate by mining 88 BTC blocks, followed by Poolin with 76 blocks. As of yesterday, the average commission per transaction is about $ 1.58, a value that peaked at a high of $ 62.78 in April 2021.

Related: Bitcoin could surpass shares in 2022 due to the tightening of the Fed – Bloomberg analyst

Despite federal pressure for tighter monetary policy on cryptocurrencies, Bloomberg’s raw materials strategist Mike McGlone hints that BTC has a combat opportunity to come to the top as investors recognize its value as a digital backup.

As reported by Cointelegraph, McGlone believes Bitcoin is in a unique position to outperform in an environment where reducing incentives is usually considered negative for risky assets:

“Crypto is the pinnacle between risky and speculative. If risky assets are reduced, this helps the Fed fight inflation. As Bitcoin has become a global reserve asset, it may be the main beneficiary in this scenario.

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