• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Invest BTCTry
  • Join STC ICOBuy
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Wall Street Downplays Crypto after Lower Ratings to AMD and Nvidia

Martin Young by Martin Young
3 years ago
in Cryptocurrency news
Reading Time: 2min read
Downplays Cryptocurrencies
Advertisement

The Wolves of Wall Street have been stirring the crypto pot again this week by downgrading ratings for chipmaker Advanced Micro Devices (AMD). Citing a faltering cryptocurrency market and a decline in demand for mining in 2018, Morgan Stanley reduced its ratings from equal-weight to underweight for the California based semiconductor giant. The results were instant, a 9% fall in AMD stock prices following the report.

Graphics cards producers AMD and Nvidia have been flying high in recent months as demand for top end GPUs has surged from crypto miners causing market shortages and price increases. According to Morgan Stanley, cryptocurrencies account for 9% of AMD’s total sales and it argues that the mining frenzy will continue to fade.

Despite the massive surge in Bitcoin prices in recent months, investors remain skeptical about companies that have profited largely from this boom in mining. They are starting to turn more cautious towards profits made from the digital currency explosion this year. AMD had gained 30% earlier this year resulting in better than expected earnings and sales in the third quarter, however, a weaker forecast for the fourth quarter sent stock prices down by 14% last week.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Morgan Stanley just added fuel to the fire with their predictions for a weaker future for cryptocurrencies. They predict that sales driven by coin mining will decline by 50% next year which equates to a $250 million drop in revenue.

Rival company Nvidia are faring much better and have so far escaped the wrath of Wall Street analysts. Shares reached an all-time high last week and cleared $200 for the first time. Nvidia has reached into artificial intelligence technology where its chips are expected to power up to 80% of the market in coming years.

It is true that mining has become harder and is largely beyond the reach of the average person with a reasonably powered desktop PC. The majority of mining operations are now carried out in China in huge mega-factories but they still need to rely on powerful graphics processors to get the job done.

The bottom line is that Wall Street and bankers don’t like cryptos, they can’t control them, so the weapons of fear and doubt are often used to convince traders and investors that it is all hype and the bubble will burst. Only time will tell if there is any truth in these claims.

Tags: AMDBreaking NewsGraphics CardsminingNews
TweetShare
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

Binance BNB BNBUSDT

Binance offers Tesla stock token, could Coinbase (COIN) follow?

20 mins ago
Bitcoin BTC

How COPA’s lawsuit against Craig Wright could benefit Bitcoin

1 hour ago
Bitcoin BTCUSD

Why MicroStrategy decided to paid its Board of Directors in Bitcoin

2 hours ago
holdefi

Holdefi: A Unique Decentralized Lending Platform Shaping the Future of DeFi

4 hours ago
Unicly

Capitalizing on Blockchain’s Promise, Unicly Delivers NFT Fractionalization

5 hours ago
BNB Soars Above $600, is an Ethereum Flippening on The Cards?

BNB Soars Above $600, is an Ethereum Flippening on The Cards?

5 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
Bybit

Bybit

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Top ICOs

Student Coin

Student Coin

Review · Visit

Token sale

Holdefi

Holdefi

Review · Visit

Press Releases

Raze Network to Launch Its Public Distribution Sale on Balancer Liquidity Bootstrapping Pool

April 12, 2021

Blockchain Goes Mainstream With Rowan Energy

April 12, 2021

Two Leading Russian Media and PR Agencies United Into One Full Cycle Advertising Agency

April 9, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Invest BTC
  • Join STC ICO

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.