Will the Video Card crisis end after the Decline in Cryptocurrencies?
With the prices of Bitcoin and other cryptocurrencies falling to the bottom, will the prices of Video cards used for mining change?
There are growing signs that the protracted boom in cryptocurrencies is coming to an end. This also feeds hopes among gamers that GPU prices will drop significantly, as a highly commented Reddit post shows.
The main reason for this is the recent sharp drop in prices for the cryptocurrencies Bitcoin and Ethereum. At the same time, graphics card manufacturer Asus is seeing clear signs that demand from crypto miners is declining, as PCMag UK reports.
Both Bitcoin and Ethereum have fallen sharply since hitting all-time highs in November 2021, which has deteriorated recently after a certain phase of recovery. Bitcoin dropped from $60,000 to just under $30,000. Ethereum, which is particularly popular when mining with a GPU, has dropped from $4,000 to about half, or $2,000.
Cryptocurrency Miners Can Sell Their Graphic Cards
Experts say that due to this development, we will even reach prices not in the normal price range, but much lower, through the mass sale of GPUs by miners.
Gaming graphics cards will become significantly less important for cryptocurrency mining in the future due to a change in the mining process in favor of lower energy consumption. But in the case of Ethereum, this change has often been delayed, which could also affect the prices of new GPU generations:
So, as understandable as the positive response to falling cryptocurrency prices, the factors influencing graphics card prices remain multifaceted and complex. Therefore precise predictions cannot be made, but the latest developments from a player’s point of view are welcome.
How do you assess the situation? Are we clearly heading towards the normalization of the graphics card market or is it too early to have that hope? Let us know in the comments!