A general slump! Bitcoin fell to 4700 points, the chip giant NVIDIA 150 billion market value evaporated overnight

The market filled with pessimism. In November 16th, the chip giant NVIDIA announced third quarter earnings, revenue earnings data significantly lower than expected. This negative news, NVIDIA shares plunged 18% in one day, the company market value evaporated 1500 billion yuan. Wall Street analysts believe that NVIDIA’s slump is not only cause revenue data, encryption is also affected by the currency market.

A few days ago, Wu Jihan and Macao Satoshi is war hit the market until the crypto currency, today, bitcoin has the biggest decline this year, the minimum fell to $4694. Although once picked up, but there is still no return to the $6000 mark, but at $5000 at around. 6000 dollars is the limit price acceptable to the miners, if bitcoin maintain long-term downturn, many miners will give up. Bitcoin mining machine and manufacturing center, on chip windfall bits, and NVIDIA also will be unable to continue.

Although NVIDIA released two quarter earnings, according to the GPU encryption currency mining sales have fallen sharply, NVIDIA made from the money market is not encrypted. But NVIDIA CEO Jen-hsun Huang also admitted that the company’s difficulties affected the encryption technology bear market to a great extent.

Overclock3d foreign media reported on November 19th that: in the card after the collapse of a large number of old mines, the architecture of Pascal end graphics cards overstock. NVIDIA GTX 1060 graphics card backlog is at least a quarter to digest, card available end consumers do not expect to soon be able to see the new Turing in architecture. The new graphics Turing high prices and the public version of graphics Huaping also allow NVIDIA in one disaster after another. In this regard, Jen-hsun Huang said: “the bear long crypto currency sequelae than we expected, we are surprised, but it will be the last.”

(NVIDIA overstock)

The bear market will be over? Now it seems that this idea of Jen-hsun Huang is very difficult to achieve, as soon as possible from the money market may be good encryption strategy. Earlier, the main rival, NVIDIA bit in encryption currency market has released its own transformation strategy. Although the company rely on encryption money market dominance has won more than NVIDIA revenue in 2017, but now it has begun to transition.

The company responsible for the main characters of encryption currency business Wu Jihan was expelled from the board of directors of the company ranks, the company reverted to power Jahnke group of people in charge, and James himself is artificial intelligence firm, the encrypted currency market lack of interest. According to the bit, reported a lack of action in government relations on the mainland has been a bit in the past year received from the government Chinese millions of dollars for the development of artificial intelligence technology.

The government doesn’t put money, this at least bit, has taken a solid pace in the development of the road. Maybe a bit, no way like Monopoly money market monopoly as encryption of artificial intelligence market, but at least it can help in obtaining government support more smoothly, and it will be listed road obstacles, investment institutions, the bit can also smooth.

NVIDIA, bit, these old industries dominate a crypto currency have announced plans to withdraw from the market, indicates that the encryption currency may continue bearish for a long period of time. You do not know the readers, you have to see how?

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