Bitcoin mining has become more complicated by 9%

The growth of the bitcoin hashrate continues. Another recalculation of the complexity showed an increase of 9%. Moreover, the ВТС rate decreased by 8%. 

Every 2,016 blocks, the complexity of bitcoin mining is recalculated. This usually happens every 14 days. In 2022, the recalculation is the second in a row. Moreover, on January 8, the data recorded an increase of only 0.41%. If we take the figures from August 2022, the increase in complexity by 9.32% is the most significant. 

A steady increase in the production of cryptocurrencies can be seen for more than 6 months. The decline was only once in November 2021, when the ban on mining in China came into force. Since that moment, there has been a recovery of the hash rate in the ВТС and the achievement of new high historical indicators. Data from BitInfoCharts on January 20, 2022 indicate an indicator of 217 Eh/s. 

There is a rapid decline in the bitcoin exchange rate. At the moment, ВТС can be bought at a price of about $ 38,500. A decrease of 8% is recorded. This could be influenced by the introduction of a ban on cryptocurrencies in Russia and the fall of stock markets. Over the past few months, there has been a high correlation between the bitcoin exchange rate and stock index data. 

Not so long ago, Michael Saylor, who heads MicroStrategy, made an important conclusion, saying that bitcoin is the best protection against inflation of fiat currencies.