Why Bitcoin plummeted but VGA price has not cooled down?

Bitcoin for a month has passed traders heartbreaking when it broke the $ 40,000 mark and at times peaked at $ 57,000 but quickly plunged down to $ 48,000 to $ 43,000. Currently, this dong is on track to recover around 49,000 USD.

The unusual movements of Bitcoin made other virtual currencies also have many red floors and then recovered, but the rebound was still quite slow. However, the current VGA price has not shown signs of cooling even though the virtual currency is no longer feverish as it was a few weeks ago.

Surveying fast prices in the market, a series of 6-legged buffalo GTX 1660 Super is still listed for about 89.9 million VND, the retail price is not less than 10 million VND while the proposed selling price is only about 240 USD (5.5 million VND). Other high-end models such as the RTX 3090 remain at sky-high prices and are seriously scarce.

New VGA prices are still very high, even with frequent out of stock and no retail

The reason for this price hold is still mainly from buffalo drivers and diggers when they are no longer dominated and sold off by the psychology of the crowd as Bitcoin broke in 2018. While buffalo driving actively buying VGA to keep the price, the diggers are not in a hurry to discharge their buffalo but are persisting in digging, keeping virtual money in their wallet and waiting for the price to rise again before selling.

In addition to the virtual currency Ethereum is still holding at a good price that miners are profitable, many other virtual currencies have been on the exchange to be targeted by miners to mine instead. In general, miners are no longer too confused and panicked like before, and also have a better knowledge of the cryptocurrency market in general.

Another objective reason that has been talked about so many times is the shortage of chipset supply until 2022. This situation does not basically happen with other computer components such as CPU, RAM or motherboard. Because cryptocurrency mining currently only uses VGA as the main, does not require or require CPU and main is relatively inexpensive. Lack of oversupply has made VGA production not enough for buffalo drivers as well as demand for gamers.

Meanwhile, old VGA is being collected by traders to install buffalo and plow staging

So how serious is the shortage of semiconductor chips? Not only Nvidia or AMD, even Ford or Enphase, let alone Microsoft or Sony, are thirsty for chips more than ever. Industry 4.0 has created an explosion in 5G devices, the Internet of Things, smart homes, self-driving cars, virtual reality devices and all of these things need chips. If you do not know, gasoline cars use about 1,300 chips while this figure in electric cars is about 3,500 chips.

In addition, the former President Trump’s ban on Chinese companies, including SMIC or Huawei and ZTE, forced US companies to flee to non-mainland partners like TSMC. The Taiwanese company is expected to spend $ 28 billion to build more chip factories this year, but Covid-19 makes the process longer than expected. And so epidemics as well as the US-China trade war also contributed to the shortage of chip supply, leading to the VGA price could not cool down overnight.