Bitcoin price prediction: difficulty climbs 5 percent on Thursday

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Computing power in the Bitcoin network sits 16 percent above its level of 30 days ago, the price 4.9 percent below it. On Thursday mining difficulty follows, and that shifts the economics for mining operations.Bitcoin trades at $80,163 on Sunday midday, 0.5 percent below the previous day (as of October 25, 11:50 a.m. CET, price data from CoinGecko). The intraday low of $79,263 is also the weakest level of the past 30 days. The number that shapes this week, however, is not on the chart but in the network itself: on Thursday, mining difficulty is expected to climb by 5.00 percent. What is documented: difficulty has stood at 140.58 trillion since October 16, and the next adjustment falls on block 973,728 — according to mempool.space projections, that means Thursday, October 29, at around 9:51 p.m. CET. Our assessment follows further below. We regard the gap opening up between computing power and price as the most important pressure point of the coming fortnight, and we also name th...