Bitcoin crash: Hope for cheaper graphics cards

On By Garmin Philip

Cryptocurrencies, especially Bitcoin, continued to fall drastically over the weekend: For the first time since last July, the Bitcoin price fell below 35,000 US dollars, other cryptocurrencies such as Ethereum also fell to their lowest level in months. This causes excitement in the crypto scene, but gives hope to computer gamers.

They haven’t been able to get graphics cards at acceptable prices for around two years now because the crypto industry is buying the market empty in order to “mine” digital money with the 3D accelerators. Graphics cards are a popular tool, especially among Ethereum miners, and ASIC special computers have long been used more and more for Bitcoin. The sharp fall in prices is now making cryptocurrency production less lucrative. An analysis by the hardware magazine “PC Games Hardware” therefore comes to the conclusion that the crypto crash could finally mean affordable graphics cards for PC gamers again, miners could sell their used 3D accelerators, larger quantities would become available and ultimately the exorbitantly high retail prices will fall. The question is how long that will take. Intel is planning ASIC miners and graphics cards Other market developments are also playing into the hands of gamers. The US chip giant Intel recently announced its entry into the business with ASIC miners for Bitcoin generation, which could take pressure off the graphics card market. The fact that Intel also wants to enter the graphics card market, which is currently dominated by AMD and Nvidia, which would intensify the competition and increase the quantities available, could also calm the situation somewhat in the coming months. Background to the crypto crash at the weekend – krone.at reported – are investors’ concerns about a tighter US monetary policy. Federal Reserve (Fed) Chairman Jerome Powell is expected to announce an interest rate hike midweek, which would be unfavorable for highly speculative assets like cryptocurrencies. In addition, there are large-scale sales in Asia and ongoing debates about the large electricity hunger of cryptocurrency generation. The Russian central bank recently even called for a ban.

Reference-www.krone.at