The S&P500 index fell again upon testing its historical maximums. The last two waves of declining were used by investors as a chance to buy with the aim to take at the start of the new ascending trend. However, as soon as the price reaches its record values, the buyers disappear and those who bought earlier lock in their profit, putting pressure on the index.
In 2015 one could buy Nvidia (NASDAQ: NVDA) stocks for just 20 USD each; however, an unexpected growth of interest toward cryptocurrencies has changed the investors’ view of this company accordingly. The more the cryptocurrency market grew, the more people wanted to mine: individuals with 1 to 10 graphic cards as well as major investors, owning mining farms with thousands of graphic cards. All this led to increased demand for GPU, and the income of Nvidia has started growing, too. The management realized that the boost was temporary; nonetheless, they tried to get the most from the existing demand. As a result, there appeared a whole department engaged in development of GPU chips for mining.