Post
Topic
Board Economics
Re: Crypto chip sales plummet
by
BitHodler
on 26/08/2018, 13:06:34 UTC
Hence, I think the easiest assumption we can do is at least at the short term we may not see a great spike at the price of the altcoins we all know, not at least trhu miner pushing.
That's a pretty safe assumption. If Bitcoin isn't in the mood to pump, which it may not be for a very long period of time if the 2014/2015 bear market is our main indicator, then altcoins will continue to bleed hard.

People praise altcoins for how fast they can increase, but they discard the fact that they also tank just as quickly. Bitcoin down 10% mostly translates into a +20% altcoin decline, which is killing it for miners needing every penny.

I have seen several people state that it might be a good time to start shorting these companies, and it actually is a good point with how Nvidia and AMD stocks started rallying when crypto mining started to take off.