Is a Bitcoin ‘death spiral’ imminent following yesterday’s massive difficulty adjustment?

As a result, the network hashrate decreases and the block time increases, meaning that miner revenue further diminishes, pushing more miners off the network. On September 20, Bitcoin experienced one of the biggest upward mining difficulty adjustments in its history.

All Bitcoin miners compete to solve the next block. If during this period, the time between blocks falls below that mark, the difficulty adjusts upwards.

Timeline of Bitcoin