Nvidia Share Price Gets Crushed as Bitcoin Heads Towards Zero

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Feb 6th


nvidia share price

Nvidia share price has been crushed in the last five trading days, down a total of 15%. After hitting an all time high of $248 dollars on Jan 31st, it is now down to $213.

Nvidia has been a stock pickers darling for the last few years as it GPU cards have been a critical component to mine Cryptocurrency. Gamers from around the globe have complained that they were unable to get their hands on the most powerful graphics cards as cryptominers around the globe sucked up all free stock.

The Nvidia QUADRO GP100, which has over 3500 CUDA cores, with each core being able to process a mining operation, has been sold out since its release last year, even with its price tag of over $6000. Today for the first time in months you are able to purchase one directly from the Nvidia online store.

Reddit user CLOUD3514 who works in retail shared a photo of “a known reseller” returning a stack of GPU cards, over $4000 in a single transaction.

Nvidia GPU returns
photo credit:CLOUD3514

While the collapse of Bitcoin and the miners that make up the backbone of the cryptocurrency infrastructure will likely have a significant hit on Nvidia and AMD sales, it does have two other healthy markets, gamers and AI.

The gamers were always the original Nvidia customer and have been widely vocal about their inability to get the high end GPU’s, so this collapse in crypto mining can only be looked upon as great for the gaming community.

However Artificial Intelligence (AI) is at a burgeoning stage of its existence and is expected to explode in the coming years, it also makes extensive use of CUDA cores to do billions of calculations required for machines to “learn”.

So the availability of the CPU for gamers might be short lived, they might want to get in now while they can, or they could wait until Bitcoin hits zero, in which case there will be masses of GPU’s hitting the market from the miners.

That is looking more and more likely as the price is down to close to $6000, seen as a key support level. If that support level is breached the next support level is down around $4500, and after that things get really messy, with the likelihood of going to zero looking feasible.

One Response

  1. Kalashinkov says:

    Anybody who thinks bitcoin is going to zero is a moron. And even if it did, GPUs aren’t used to mine bitcoins so would be irrelevant anyway.

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