High mining interest continues to increase the difficulty of Bitcoin 2

High mining interest continues to increase the difficulty of Bitcoin

The ore content of Bitcoin will increase by about 60% in the third quarter of 2019, although it has recently increased.

A high difficulty suggests a great interest

How? 'Or' What data According to crypto-graphical analyst Kevin Rooke of September 19, the "difficulty of mining" has grown on average by 42% per quarter since 2016.

The only exception is Q4 2018, which represents the low point of the downtrend at the time. Since then, however, the level of difficulty has been steadily increasing. In 2019, it rose sharply compared to last year.

Rooke comments on current quarter figures as follows:

"The level of difficulty is expected to increase 60% in the third quarter, even though it hit a new record high at the end of the second quarter."

Bitcoin graph of all times of difficulty

Bitcoin mining difficulty. Source: Blockchain

The exploration difficulty indicates the effort required to perform complex calculations and thus unlock the next block of bitcoins, which in turn is rewarded.

The more competition on the Bitcoin blockchain, the higher the difficulty level. On the other hand, a high level of difficulty means a marked interest in mining signaling.

Bitcoin fundamentals stronger than ever

As Cointelegraph has already pointed out, the difficulty of mining is just one of the fundamentals of bitcoin, which has been strong this year.

The so-called Hashrate, a measure of the total computing power available from the Bitcoin network, just set a new record this week.

Experts suggest that, sooner or later, the positive fundamentals will lead to a further rise in the price of bitcoin, but the positive sentiment has not yet borne fruit.

Hodlonaut, the crypto-activist highlighted Thursday's community optimism representative in a tweet.