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Bitcoin is undergoing the largest drop in hashrate in the history of the network.

The difficulty adjustment for the next epoch is currently sitting at **-24.5%**. This would be the largest reduction in hashrate in the history of Bitcoin network, and has the following implications:

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* Transactions are currently more expensive/slower to confirm than usual.
* Other miners online will be proportionately more profitable, however the dip in price may offset this if they choose sell immediately [(although miners seem to be currently accumulating, signalling that they are profitable and are bullish on future price)](https://twitter.com/glassnodealerts/status/1405093573549232130)
* The price of bitcoin could be impacted in the short term, as there are [some who believe that hashrate is a leading indicator of price.](https://bravenewcoin.com/insights/does-hash-rate-follow-price-or-does-price-follow-hash-rate)

Regardless of this, the network currently seems to be chugging along just fine, reinforcing the fact that Bitcoin doesn’t really give a shit about government crackdowns, even if the nation in question is the one with the most amount of miners. πŸš€



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