Good news for gamers: Bitcoin is crashing and taking the crypto market with it

If you have any investments in popular cryptocurrencies, chances are you’ve had a pretty nasty few weeks. While most of the news surrounding the ongoing crypto market crash concerns Bitcoin, its crash has also dragged several other coins such as Ethereum down with it.

At its peak, a single Bitcoin was worth almost $64,400, which means that if you bought $1,000 worth of Bitcoin on November 12, 2021, it would currently be worth about $326 today. Similarly, the price of Ethereum fell to $1,112 this week, down from $4,600 in November, and this was the primary coin still mined using consumer graphics cards rather than application-specific IC miners ( SO C).

That’s bad news for cryptobros, but potentially good news for other stakeholders who have been praying for the market to crash, even if some people have nothing to gain from Bitcoin’s crash. One such group is PC gamers and computer enthusiasts who have partly blamed crypto miners for the rapid inflation of graphics card prices in recent years, but will this ongoing market crash provide a fruitful payoff? of cheap GPUs?

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