Bitcoin mining difficulty expected to see largest drop since China ban

Bitcoin (BTC) mining difficulty is expected to adjust downwards by about 4.5% during the next adjustment window, on July 21 at around 7 p.m. BST, according to an analysis conducted by CryptoSlate using Glassnode data. This event will mark the most significant decrease in mining difficulty since China’s crackdown on Proof-of-Work (PoW) mining in May 2021. The chart below shows four past instances of a significant downward adjustment. These occurred in March 2020, May 2020, October 2020, and July 2021, with the adjustment in July being the most significant drop.