Nvidia, AMD GPU Prices Are Dropping Amid Crypto Crash | Is it Now the Right Time to Buy?

Joseph Henry, Tech Times 25 January 2022, 01:01 am

Graphics cards from Nvidia and AMD faced a sudden price spike in the past thanks to the ongoing chip shortage. As expected, the chipmakers would double the production to gradually keep up with the demand at the expense of charging a higher value on the part of the consumers.

However, the current market landscape has changed. When cryptocurrencies nose-dived, the street prices for this hardware went down as well. Following this quick dip, is it now the right time to buy these GPUs?

Nvidia and AMD GPU Prices Dropped

Nvidia, AMD GPU Prices Are Dropping Amid Crypto Crash | Is it Now the Right Time to Buy?

(Photo : Christian Wiediger from Unsplash)
Nvidia and AMD GPU prices are seen to be going down amid the falling crypto market.

For those who have been searching for the right time to purchase a graphics card, it might be the appropriate opportunity to grab one. In Europe, 3DCenter spotted that the prices for these GPUs were currently falling.

According to the German source, the value for this component could be "directly proportional to what is happening right now in the crypto market." In short, we could expect a continuous drop in price for these GeForce and Radeon cards as ETH reached its rock-bottom mark in the past six months.

For instance, the Nvidia RTX 3080 cost $1,773 a couple of months ago. The suggested retail price for this product might be out of hand especially for those who are tight with their budget.

Things got worse when its price skyrocketed from November through December 2021. However, the January report showed that it plunged to below $1,600 on average which accounts for an 11% dip.

Besides RTX 3080, other GPUs such AMD Radeon RX 6000 and RTX 3000 plummeted to 5 to 10%. However, the case was different for RX 6900 XT which was the lone graphics card that experienced a price spike.

Going back to Tom's Hardware, the tech site previously observed that scalpers took the opportunity to sell the graphics card on eBay and other sites because of the large sales volume.

One of the possible reasons why decreasing GPU prices are everywhere is because of consumers' choice. Somehow, some of them prefer to avoid encountering scalper prices on the platform.

If you are thinking of buying now, it is advisable that you go for it. Take the opportunity to grab one once it becomes available near your area.

Crypto Crash Equals GPU Price Drop?

In another report by The Verge, the dropping of GPU prices might be connected to the major crypto crash. Since miners rely on GPUs, they could not hoard and sell them anymore twice their actual prices.

At the moment, there's no clear indication that the supply has already kept up with the demand since finding GPUs is still a challenge for users. AMD and Nvidia anticipated that the supply for the cards will come by the second half of this year.

Nvidia Believes GPU Shortage Will Improve

Last week, Tech Times reported that Nvidia CFO announced good news for fans who haven't yet gotten a graphics card. According to Colette Kress, the company believed that GPU shortage would ease up in the next few months of 2022.

This article is owned by Tech Times

Written by Joseph Henry