Sources, State that the slump that has recently happened in the cryptocurrency market is due to the lack of graphics card suppliers dropping their prices, tech outlet DigiTimes said on June 29th.
The unknown sources stem from the “upstream supply chain” reported to DigiTimes that the recent sales of Asic cryptocurrency mining hardware has been negatively affected, with a predicted price drop of 20 percent during the month of July. Among other affected companies are the Taiwan Semiconductors Manufacturing Company, and the integrated circuit (IC) creative service partners like Global Unichip.
DigiTimes also notes that the worldwide graphic card market supply is now at numbers totaling more than several million units. The United States Based Company Nvidia, another of the graphic cards makers, reportedly has millions of GPUs set to be released, the they told Digitimes. The sources also continued that Nvidia’s next-generation GPUs are to b postponed for production until later in the fourth quarter later this year in 2018.
In May, Nvidia also stated that they would make $289 million from processor sales to the crypto currency market in the 1st quarter, making predictions that as much as two-thirds of a drop in the second quarter are due to market correction. And, that in May, Chinese ASIC manufacturer Bitmain also stated they were thinking of turning to Artificial Intelligence because of the increase in harsher regulations in China.
Two analysts at the end of June also made some predictions, they warned that investors of Advanced Micro Devices Inc. (AMD) that the share price could fall if crypto mining becomes less needed.