Key Takeaways Brian Armstrong said July 20 that hash power leaving Bitcoin doesn’t set its price, citing the currency’s difficulty adjustment as his core argument. Bitcoin’s difficulty fell 5% to 127.17 trillion on July 11 after hashrate dropped 7.9% to 908 EH/s in ten days. Armstrong called $60,000 the bottom in June; 56.3% of roughly 27,000 poll respondents disagreed on July 14. The Argument Armstrong made the case in a post on X, wading into a debate that flared the same day after billionaire investor Chamath Palihapitiya argued that bitcoin bulls face two problems, i.e speculative liquidity drifting to prediction …