There isn't one right method, it's all irrelevant as the only important thing is how much the average block difficulty has deviated from the target difficulty. Target difficulty is the difficulty that is required for constant time between two consecutive blocks. When hash rate is measured during time span of one second, difficulty is measured during time span set when the coin was created, usually fractions of minutes or several minutes. Both are same unit, but different magnitude.
RE: BTC - Forget the 40% drop, Hash Rate is back to All Time Highs!