Summary
Bitcoin’s mining difficulty has reached an all-time high right before the halving event, making the network more secure. The halving event will cut miner rewards in half and is expected to increase scarcity and the price of Bitcoin. Only the strongest and most efficient miners will remain in the industry, strengthening the network.
Key Points
1. Bitcoin’s mining difficulty has reached its highest level ever, just before the upcoming halving event.
2. The increase in difficulty is essential for maintaining the security and operation of the Bitcoin network, as miners generate hashes to mint new coins.
3. The halving event, which will reduce miner rewards and increase scarcity, is expected to strengthen the network and attract more participants, contributing to the current price of Bitcoin standing at over $70,000 per coin.