Xavofat
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February 02, 2018, 05:35:58 PM |
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Difficulty and price are positively correlated - typically as one moves up or down, so does the other. However, the cause is the price.
When miners mine a block, they receive a block reward of 12.5 BTC (this block reward halves approximately every four years). When the price rises, the value of this reward increases, and therefore there is an increased incentive to mine, so more mining hardware is bought and used (and vice versa).
This may seem unusual, since the price has been falling recently, but since it rose very dramatically before this drop, miners basically hadn't caught up yet.
So no, the difficulty rising will not cause the price to rise.
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