Bitcoin mining difficulty declined for first time since September
![Bitcoin mining difficulty declined for first time since September](https://crypto.news/app/uploads/2023/12/crypto-news-hologram-silver-Bitcoin-coin-trading-chart-is-up-background-bright-tones03.webp)
On Dec. 10, 2023, Bitcoin (BTC) mining difficulty decreased by 0.96% with an average hashrate at 462.60 EH/s.
The decrease in mining difficulty occurred against the backdrop of a drawdown in the Bitcoin price. On the night of Dec. 11, the price dropped to $40,500.
This is the first reduction in mining difficulty since mid-September 2023, according to BTC.com. A change in this indicator directly affects the date of the halving, which is expected in April 2024.
![Bitcoin mining difficulty declined for first time since September - 1](https://crypto.news/app/uploads/2023/12/Screenshot-2023-12-11-at-14.32.13-1024x779.png)
The last change in the indicator occurred on Nov. 26, 2023. It showed an increase of 5.07% compared to the previous value. The hash rate was 480.85 EH/s.
The next change in mining difficulty will tentatively take place on Dec. 23, 2023. The forecast is a reduction of 0.12%, according to BTC.com.
Notably, since mid-September, the average hashrate on the Bitcoin network has been growing almost constantly. A PlanB expert stated that this is due to ETF issuers.
According to the analyst, large companies who buy Bitcoins directly from miners impact price, and transactions are often mired in a corresponding increase in hash rate.