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Over the past couple of weeks, the market for GPUs brought relief to many gamers – all thanks to cryptocurrencies and their sluggish performance. In other words, the prices of great GPUs have been falling in parallel with the largest cryptocurrency and its decreasing value.

After skyrocketing in 2017 and almost stabilizing at $20,000, Bitcoin led to the birth of a new market known as crypto mining. However, this market got popular very quickly, and with that, the prices of GPUs skyrocketed as well.

In April 2018, the three most popular gaming processor cards (which were used for mining as well) were selling like hotcakes. We are talking about the AMD RX580, NVIDIA GeForce GTX1070 and the AMD RX480 – which all sold for more than $700, up from $380 before the craze.

As everyone could see, the search for GPUs and their potential for Bitcoin mining increased at a fast rate – so fast that NVIDIA even advised its retailers to prioritize sales to gamers instead of miners. This is why Advanced Micro Devices (AMD) was the best choice for miners up until the supply was exhausted.

The sales of GPUs almost doubled in the last 3 years – and the market went from under $2.7 billion to over $4.7 billion. The revenue model also increased and overall, GPU sales went from $3.82 billion in 2015 to $6.45 billion in 2018 (so far).

However, the higher priced graphics cards are decreasing in terms of demand, mostly because of the sluggish performance of Bitcoin and the crypto market.
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The prices of the NVIDIA GeForce GTX 1080 which was once $1,050 is now $709 and the price of the top-end AMD OEM 4GB RX 580 six-pack slid from $3,600 to $2,500.

At this point, all we can expect is other areas of the industry showing signs of devaluation – which could be a great opportunity for miners to prepare for a new bullish run.