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New (Possible) Bitcoin Slump Continues to Spell Good News For Graphics Cards!

One of the biggest factors in the overall improvement in the consumer graphics card situation over the last 9 months has undoubtedly been intrinsically linked to the drop in the value of cryptocurrency and specifically Bitcoin. – With mining operations pretty much wiped out due to Bitcoin losing over two-thirds of its peak value seen last November, this has finally seen the market flooded with affordable graphics cards as, quite frankly, Nvidia, AMD, and their AIB partners pretty much have to go back to just relying on us gaming consumers for GPU sales!

With things definitely a lot better than they were before, however, there was always the risk that another crypto-boom could see a quick return to the bad old(ish) days. – Following the latest figures from Coindesk, however, it seems that while Bitcoin is moving again, the good news (for most of us) is that it appears to very much be in a downward direction!

Bitcoin Slumps Again – More Good News for Gaming Consumers?

For the last 3-4 months, Bitcoin has predominantly been in a period of stagnation with its value generally fluctuating around $20,000-$24,000. No significant rises, but no significant drops either. – Within just the last few days, however, Bitcoin has definitely been going in a downward direction with it dropping towards its most recent all-time low of $17,700 seen last June.

Overall, and as you can see in the chart above, Bitcoin appears to be heading into a brand new slump and if this is the case then it can clearly only spell more excellent news for gaming consumers poised to purchase their long-overdue GPU upgrade. More so though, with Nvidia 40XX and AMD Radeon 7000 just 2-3 months away, it gives us even more hope than when those GPUs do arrive, the only demand seen will be from us gaming folk!

Overall, although we certainly don’t want to jinx things, it does appear that after nearly 2 years of misery, we might finally be getting back to another great period for consumer GPU purchasing!

What do you think? – Let us know in the comments!

Mike Sanders

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