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RE: BTC - Hashrate makes new all-time high!
As I understand difficulty of mining is high because there is way too many miners. The more miners, the more difficult mining.
If some miners drop off, then difficulty of mining will drop also, therefore miners who left will earn more. It is self-correcting system, isn't it?
Correct. Hash rate is the total computing resources put into mining bitcoin. The difficulty level is a separate measure, that does have some impact on hash rate.
To add to my previous comment that you replied to, without higher prices miners will have to turn off their machines. Though, once they do turn off their machines, the difficultly will adjust downwards making it easier (and cheaper) to mine bitcoin again which will drop the break even price. Though, a lower break even price will bring in more miners which will drive difficulty up. It's a very fluid situation in terms of cost of production.