Bitcoin mining difficulty rises 3.4%, reaching new ATH

Bitcoin (BTC) network’s mining trouble recorded a caller all-time-high (ATH) connected Oct. 23 arsenic the trouble accrued by 3.4% to scope 36.84 trillion.

At the aforesaid time, the Difficulty Ribbon has started to compress, which historically indicates bully buying opportunities.

Mining difficulty

The illustration beneath demonstrates mining trouble with the orangish line. The last 3.4% spike recorded connected Oct. 23 pushed the trouble enactment up adjacent the 160Z borders.

Bitcoin mining difficulty

The past clip Bitcoin mining trouble accrued was connected Oct.10, erstwhile it spiked by 13.5%. As seen successful the illustration above, that spike was the astir important summation successful Bitcoin trouble passim 2022.

Difficulty ribbon

The Difficulty Ribbon Compression uses 200-day, 128-day, 60-day, 40-day, 25-day, and 14-day elemental moving averages of the Bitcoin mining trouble to cipher the ribbon indicator.

Bitcoin Difficulty Ribbon

The illustration supra demonstrates the trouble of ribbon compression by the orangish line. The trouble ribbon has been moving wrong the greenish portion since astir the year’s 2nd half.

With the astir caller trouble adjustment, the trouble ribbon compression accrued and near the greenish zone. Historically, periods erstwhile the ribbon compresses person been bully buying opportunities.

The station Bitcoin mining trouble rises 3.4%, reaching caller ATH appeared archetypal connected CryptoSlate.