What bear market? Bitcoin difficulty and hash rate are both on course for new all-time highs.
Now, with hardware and competition returning to the network, fundamental indicators are firmly in"up only" mode as August draws to a close.
This is neatly captured by difficulty — an expression of, among other things, the scale of competition among miners for block subsidies — which is due to increase by an estimated 6.8% next week., this will be the highest upward difficulty adjustment since January this year.
"Long story short is that the bear market is really crashing those with inefficient mining fleets," it continued.Back to more bullish numbers and Bitcoin's hash rate looks to be copying difficulty in a fresh push for new record highs.
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