Fellow Btc Block Bot signaled new difficulty adjustment:
https://twitter.com/BtcBlockBot/status/1148522210870669312?s=20
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The 291st Bitcoin mining period has started with block 584,640. ⛏ New difficulty: 9,064,159,826,491 (+14.23%)
Difficulty now at ATH.
Huge upward adjustment. (Highest upward adj. since Aug 2018)
I guess that even if price raised a lot, also a lot of miners will be pushed out of the market.
Some more insight from Coindesk:
Bitcoin Mining Difficulty Posts Biggest Jump in 12 Months
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Similarly, the amount of computing power devoted to securing the bitcoin network has also logged the biggest growth of any two-week difficulty adjustment cycle since August 2018, based on BTC.com data and CoinDesk’s calculations.
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That said, the increases in bitcoin’s hash rate and mining difficulty have not yet caught up with the pace of bitcoin’s price jump, at least not as much as they did in the bull run during the second half of 2017.
According to CoinDesk’s Bitcoin Price Index data, bitcoin’s price surged by 400 percent from around $4,000 to nearly $20,000 between June and December 2017. During the same period, the network’s computing power grew by at least 200 percent.
However, while bitcoin’s price has shot up to as much as $12,000 in June – a 300-percent jump since it fell to $3,000 early this year – the network hash rate has only increased by 100 percent over the same period.
The reason for this lag is an insufficient supply of new bitcoin mining equipment to meet the market’s demand since major miner makers are hitting a bottleneck of production capacity resulting from a limited supply of chips from semiconductor vendors.
According to CoinDesk’s Bitcoin Price Index data, bitcoin’s price surged by 400 percent from around $4,000 to nearly $20,000 between June and December 2017. During the same period, the network’s computing power grew by at least 200 percent.
However, while bitcoin’s price has shot up to as much as $12,000 in June – a 300-percent jump since it fell to $3,000 early this year – the network hash rate has only increased by 100 percent over the same period.
The reason for this lag is an insufficient supply of new bitcoin mining equipment to meet the market’s demand since major miner makers are hitting a bottleneck of production capacity resulting from a limited supply of chips from semiconductor vendors.
