World’s Largest Chip Manufacturer Nvidia Hurting From Bitcoin Price Fall-3.18

Bitcoin (BTC), Cryptocurrency, Nvidia–While investors are still reeling from this week’s cryptocurrency price fall, which saw billions shed from the market capitalization in a matter of hours, chip manufacturer Nvidia is left dealing with the fallout.

On November 14, after exhibiting several months of relative price stability, the cryptocurrency markets plunged from $210 billion in market cap to $185 bln, with Bitcoin falling well below $6000 to hover around the $5500 mark. The selloff, which affected all of the top ten currencies in addition to the broader altcoin market, brought crypto prices to their lowest level of 2018–a near-impressive feat given the how severe of a bear market the year has already been. While some analysts predicted that BTC and altcoins were finally reaching the point of exhaustion for selling, with a rebound seemingly imminent, the crypto markets went in the opposite direction, falling to below price levels not tested since Q3 of 2017.

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