2019 was a difficult year for Nvidia's investors; could 2022 hold the same bad news?
While the broader market is having a tough year, crypto investors are faring even worse. With two staples of the cryptocurrency market, Bitcoin and Ethereum, each down around 65% from their all-time highs set in November, it's been a difficult go for anyone invested in crypto.
However, this market weakness has had a larger ripple effect. Crypto miners aren't nearly as profitable, and many people are shutting their rigs down due to high input costs (electricity). If miners are shutting existing resources down, they certainly aren't purchasing any new graphics process units (GPUs) to increase capacity.
This spending drop is where the GPU market leader, Nvidia (NVDA 1.98%), comes in. Nvidia makes GPUs for multiple purposes: gaming (the same devices used to mine crypto), data centers, and self-driving cars. However, with the drop in crypto demand, investors are worried about the potential revenue hit...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...