Ethereum difficulty dropped significantly today

[rdbase]

Did anyone else notice the difficulty of ethereum on the largest pool out there for those who mine it has dropped a very larger amount?
What could of caused this and what effect does this have on the ones who mine it?
I think it means more profits for them. Correct me if I am wrong as I dont mine for a full time basis as most on here do.

The number of blocks found have sky dived too.

[kindbtc]

I do not think it is a huge drop or it has made eth mining super profitable yet again to get people into mining fomo like we saw during last bull run but yes if eth gorws back over 1000 then mining eth will be very profitable.

[andreibi]

It's temporary. Usually when this phenomena is seen on the difficulty graph, it could be a large mining farm turning off their machines to migrate to a new location. Sometimes, the hashrate even goes higher as they add new machines to the farm.

[rdbase]

It's temporary. Usually when this phenomena is seen on the difficulty graph, it could be a large mining farm turning off their machines to migrate to a new location. Sometimes, the hashrate even goes higher as they add new machines to the farm.

It is a large pool for mining ethereum so I do thing it is significant even if it is just temporary. On this pool there are many workers so each one has smaller farms.

I do not think it is a huge drop or it has made eth mining super profitable yet again to get people into mining fomo like we saw during last bull run but yes if eth gorws back over 1000 then mining eth will be very profitable.

It is huge just look at the 5/14 date from the previous two days.

[pleci]

It's temporary. Usually when this phenomena is seen on the difficulty graph, it could be a large mining farm turning off their machines to migrate to a new location. Sometimes, the hashrate even goes higher as they add new machines to the farm.

Yes, in my opinion this is also temporary because the market is changing rapidly and ETH can quickly raise prices with quality.
If we see the current ETH price has grown rapidly and has reached $ 240. For these holders the thing is very good, maybe there will be a bull market getting ready.

[sulis sudibyo]

I don't think this is a decline, today Ethereum is pretty good. even ethereum prices reached 230$ in some exchanges. this is a good step, ethereum proves that he still has hope. so believe that this is not a dump for ethereum.

[Ailmand]

I believe that's normal. Ethereum is volatile so we shouldn't doubt about the dropping of prices because it will still recover again. The reason might be a quite low demand for it at that time since people focus on the increase of bitcoin's price.

[livingfree]

That temporal drop means that many hasnt been able to mine. I saw a lot of GPU sellers online and I think that is somehow related to that.

It could be like this

It's temporary. Usually when this phenomena is seen on the difficulty graph, it could be a large mining farm turning off their machines to migrate to a new location. Sometimes, the hashrate even goes higher as they add new machines to the farm.

[CryptoLogo]

I am not well versed in mining, but I think that this did not have a strong effect on the market or Ethereum itself. However, I would be interested to know what it was?

[rjp55]

Ethereum price dropped significantly today, i am not a miner but that can affect miners.

270$-->235$ is a significant change.

[masulum]

Its very normal, as we know bitcoin also fall from 8000+. its always affect to alts. Sometimes we need to correction before going to hit higher ressistence. For miner, today they not profitable, but someday if price back to ATH, of course they will be take profits for today work.

[palle11]

Its very normal, as we know bitcoin also fall from 8000+. its always affect to alts. Sometimes we need to correction before going to hit higher ressistence.

Yes I was thinking so too because btc dropped also but I'm surprised that the follow up by etheruem drop is very soon. Etheruem do follow in the movement of bitcoin but not very immediately. Like, looking at the bull too, it took like some days or week before etheruem bull joined.

[Brainnin]

Was shocked to see Ethereum dropped today, was actually thinking Ethereum will pump to around $400 and maintain a stable price but is unfortunate eth dropped today

[Adriano2010]

Is interesting because the difficulty drop on Ethereum amd the price grow at that time, i thought that the difficulty of mining always grow but looks like on Ethereum is a bit different from bitcoin mining.

[BitcoinHodler]

Did anyone else notice the difficulty of ethereum on the largest pool out there for those who mine it has dropped a very larger amount?
The number of blocks found have sky dived too.

these two statements can not be correct at the same time!
in a normal non-manipulated Proof of Work cryptocurrency, if the difficulty drops it shows that there has been a delay in number of blocks found in the difficulty adjustment period. that is WHY it drops otherwise if the number of blocks found increases then it must mean a difficulty "rise" not fall.

so you are either making a mistake about these two or someone is seriously manipulating the network and the difficulty with his huge hashrate and is making a lot of money from dumping the extra easily mined coins!

[Korkorjkk]

Today I don't know what happened but most coins significantly dropped today. Let us not panic and sell our coins anytime soon, let us keep holding our coins because they will all rise up once again.

[rysea2]

I believe that's normal. Ethereum is volatile so we shouldn't doubt about the dropping of prices because it will still recover again. The reason might be a quite low demand for it at that time since people focus on the increase of bitcoin's price.

We just need to be more patient because the opportunity to increase the market is wide open, I think there are currently many people who feel that they have benefited and sold their ethereum so that ethereum has difficulty getting up again.

[asder250]

It is obvious that it is only correction, Ethereum and other altcoins always fall more than Bitcoin when correction happens.