Bitcoin mining difficulty has dropped for the fourth time in a single row, and it posted a negative adjustment on Sunday. As the price of Bitcoin fell due to the crypto crackdown in China, mining new Bitcoin has been getting easier since.

Bitcoin Mining Difficulty Falls Due to Crypto Crackdown

The Bitcoin network shared its fourth consecutive negative adjustment of Bitcoin mining difficulty on July 18, and it has dropped around 4.8% in accordance with the data released by BTC.com.

The data revealed that the latest extracting difficulty adjustment occurred at block 691,488 lessening the difficulty rate from 14.4 trillion to 13.7 trillion, and it is the lowest level recorded since June of the year 2020.

After reaching the level of 25 trillion on May 13, the hardness data have now almost reduced to half over the past two months. 

The latest Bitcoin mining adjustment follows a series of consecutive hardness drops that began with around a 16% reduction on May 29.
Further, negative adjustments continued with around a 5.3% plunge on June 13 and another 28% reduction on July 3 marking the most significant mining hardness drop on the Bitcoin network.

More About the Bitcoin Mining Difficulty BTC Block

Talking about the details regarding BTC extracting difficulty, it is a rate of measuring how hard it is to mine one bitcoin.

Higher the difficulty rate of extracting, the higher the computational power required to authenticate transactions, and hence the harder the extraction of the coin.

As per the reduction in the mining difficulty, it is due to the decreased competition in the mining business and the fall in the price of the flagship cryptocurrency amid the crypto crackdown in China by the Chinese authorities.

In addition to this, it should be noted that mining difficulty adjustment of Bitcoin occurs every 2,016 blocks as the crypto leader is developed to self-adjust in order to maintain a target block time of 10 minutes.