NVIDIA Bitcoin chart overlay correlation, will NVDA continue to rise w/BTC?
I though it was interesting to see a chart of BTC (In red) and Nvidia (In blue) overlay against each other and how correlated it was. GPU's (Graphics processing units) have been selling out due to the increase in mining for Bitcoin and other crypto currencies).
Daily line chart from the start of 2015. You can see NVDA starting to rise in latter part of 2016. (Along with BTC)
On a % gain basis, BTC is up about double the amount of NVDA. (The chart does not show this as their price in UDS's have a huge difference)
NVIDIA up 746.8%
BTC up 1461.6%
Nvidia does pay out a dividend and has been increasing
Will companies like NVDA, AMD and others continue to benefit going forward? There are tokens that are Proof of Stake in which there is no need for mining.
From Wikipedia:
Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. ... In PoS cryptocurrencies the blocks are usually said to be forged (in the blacksmith sense of this word), or minted, rather than mined.
Daily chart of NVDA in candlesticks (red) and AMD (blue) from Oct 2012.
I'm too new into this space to understand everything as it is a slow learning curve for me. Is there a significant advantage to produce new tokens using PoS rather than the traditional Proof of Work method? (Other than saving energy?) It appears that there are only a 'handful' of successful PoS tokens.
In the meantime, I'll continue watching the charts out of curiosity.
See your financial advisor before investing in any asset.
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Interesting observation. I don't know much about NVDA's correlation with bitcoin though I have read some about their role in the automotive market and to my knowledge a big driver of the recent rise is their role in the expanding semi-autonomous and autonomous vehicle market.
Nvda has mentioned that they see consistent GPU sales specifically for the BTC and crypto markets going forward. I think people that are into crypto's would rather keep their investments in the cryptosphere rather than the manipulated conventional markets though.