Bitcoin Mining Difficulty Drops Amid Price Decline, Experts Predict Rebound

Bitcoin's mining difficulty experienced a decrease on Sunday, falling from over 114 trillion to 110.5 trillion, according to CoinWarz data. This adjustment coincided with a drop in Bitcoin's price, which traded below $83,000 on Wednesday afternoon, a level not seen since early November, according to CoinGecko. The decline in mining difficulty is attributed to miners reducing capacity due to lower prices and increased energy costs, particularly with the recent cold weather in the U.S. Despite the current ease, experts like Scott Norris, CEO of Optiminer, anticipate that the mining difficulty will soon increase again as North American operations expand. Bitcoin's mining difficulty adjusts roughly every two weeks, or 2,016 blocks.