Stock market continues to crash..but NVIDIA goes up on reports of "frenzied demand for graphic chips"
Guess why? Yup. Because of crypto currency miners. NVIDIA goes up 2,5% today while the market continues to fall.
Nvidia Corp's (O:NVDA) graphic processors, or GPUs, are so overwhelmingly popular that gamers and cryptocurrency miners are willing to pay up to three times the original list price to get their hands on its cards online.
Reuters Reports.
As we're speaking, the Crypto market is looking more bullish by the minute. We have some difficulties ahead, and levels we have to break. But my theory is that if we look at the stock market it's well overdue for some correction.
How far could we correct? I have no idea. I sold all my robotics ETF's before the crash, and I'm not considering buying in again yet. I think it should correct more. I did buy Ethereum, and I ALMOST bought more ETH today, but I couldn't quite press the button - which I of course regret a little bit now. But the volume did not seem good enough for me. I think the odds of the crypto market falling back down is too high. But IMO it's a tuff call. I'm like 51-49 in favor.
As you can see. Volumes are not high. But there could be other explanations. There could be people waiting. There could be technical levels that turn people off. IDK.
But as people lose faith in the stock market, and their money diminish with several percentage points yearly due to inflation, people will look to other investments. If this crash is the big one, we will see wealth shifting hands as it has never happened before in history.
Hang on people. It's going to be a ruff ride!
You have stated it all with "Nvidia Corp's (O:NVDA) graphic processors, or GPUs, are so overwhelmingly popular that gamers and cryptocurrency miners are willing to pay up to three times the original list price to get their hands on its cards online".
This is exactly why I love Nvidia Corp and why I am a heavy investor in them.
Do you have any stock in Nvidia???
I know they are a little pricey at current levels. however I still see them as an excellent investment.
I have also Resteemed this post to help share this information with others.
Clever! Thanks for resteem.
No, I don't own NVIDIA, but I've owned robotics funds (ETF's) for years, and I think they have NVIDIA in their portfolio. BOTZ, ROBO and XLK. I am 100% out of the funds now..I magically managed to sell just before the correction. The reason was that I wanted to buy cheap cryptos for the money..but just hours after I sodleded the stock market crashed as well. So I just sat in cash, and is still sitting in cash until I think the corretion/crash is over. At least minimize my losses.
Sitting on cash is always an option. That will allow you to invest at the price you choose after the correction. Sounds like we are like minded on investments. Have a great Friday!
You too!
Thanks, interesting perspective.
Nice that crypto has ripple effects into other industries.
The volumes have been extremely low the past weeks. My hope is that some of the USD gathering in investors pockets after the selloffs on Wall Street will find it's way into cryptos.
Thanks for you comment! Remember this is natural, because so many investors have been shaken out. The number of people buying/selling cryptos are way smaller now than a month ago. So I'm not that concerned really. What's going to be interesting is what will happen to the volume once we see breakout moves up or down IMO.
Thanks!
Hopefully more longterm investors start holding crypto in their portfolios. I think that your point about number of investors is key, the more people have crypto in their investment arsenal, the more even the liquidity will be.
Even the crypto CFDs that are offered now are positive in the sense that they increase traders' interest.
This makes perfect sense. The miners need graphics cards and chips to mine. I’ve even heard tell that Canadian Hydro Power is investigating using their excess power to allow people or companies to mine Bitcoin. It’s probably the way of the future.
Also beginning to pop up quite a few miners in Norway as well..hydroelectric of course. Collaborations with the municipal authorities etc.
This is so true. Graphics card sales have been crazy all over the world for last 2 years, so much so that specialized mining cores have been mass produced for the miners.
I remember reading an article predicting the industries that would be positively affected by the concurrences and thus there stock can be viable investment opportunity.
from this post, I think it applies nicely @iobates
lol. nice one :D
It would be exciting to follow this ride. As luck is I dont own so much cryptocurrencies so even when the market will crash totally I will survive. It has to be so exciting for people who put in all their lifesavings. Thanks for the update :D
It is..exciting :D
People who are related to crypto market are still in shock.They still need some more time to think about it.Still they can't keep their faith on crypto currency.Any thing could have been happened,may be there is another down fall or may be it will go ahead like a bull.Let's see what happens.Let's hope for the best.Very useful post.
Thanks man
Stock market is falling too. It's no surprise :)
Lol, yet AMD continues to decline.
Nvidia has won the gpu wars.
yap....That's exactly what it is