Since the start of 2022, Bitcoin (BTC) has seen a decline in price by more than 40% from its all-time high (ATH) of $69,044.77 on Nov 10, 2021.
This price volatility hasn’t affected the network's ability to increase miners’ difficulty to obtain Bitcoin. As competition among miners continues to grow, Bitcoin’s difficulty reached a new ATH for the second time in two months. The hash rate has also experienced a steady climb of 45% in 6 months after last July’s lows.