At the end of the last month, the price of the Bitcoin dropped more than $1,000 (almost 11 percent) in the span of an hour. Just before this dramatic drop, it reached an all-time high above $11,000. Service outrage of GDAX, Bitstamp, and Gemini was also reported in the social media. This was the lowest price drop in the Bitcoin Price Index (BPI) since November 26 when bitcoin hit a low of $8,757. As of December 2, 2017, the price of Bitcoin is around 10,956.55.
Among all cryptocurrency mining hardware producers, the competition between AMD and Nvidia is an important one to watch. Highly performance Graphic Cards (GPU) demand from cryptocurrency miners increased the stocks of these producers on Wall Street in the recent years. According to Joseph Moore, Morgan Stanley analyst, this trend might be temporary and we could see an ongoing decrease in 2018. He added, AMD has been tight-lipped about its cryptocurrency risks; whereas, Nvidia has clearly defined its exposure to the cryptocurrency market and has assured investors that its projections incorporate downside risks. It is reported that the overall demand is largely driven by Bitcoin and Ethereum miners and unless the demand for other currencies increases, these companies (and their investors) will experience a hard time in 2018.