On November 22nd, “Bitcoin evaporated 1 trillion” was on the top of Baidu’s hot search. In the past year, Bitcoin has gradually fallen from the highest of $20,000 and once fell below $4,100. According to the China Fund Report, in the past year, bitcoin prices have fallen by nearly 77%, and the market value has evaporated by 1.6 trillion yuan. With the decline in the price of coins, many investors have announced “bankruptcy” on Weibo, friends and other platforms. Some senior players said that they have lost more than 85%, and only 2,000 yuan left. Many small and medium-sized miners have sold their miners at a discount. They sold for up to 20,000 units a year ago and now only sell for more than 1,000 yuan. Even nearly 80% of mining machines are treated as garbage. According to Tencent's "First Line" report, bitcoin prices have penetrated the cost of multiple mining machines, that is, the income from mining is insufficient to pay for electricity and management fees. According to the data of the fish pond, one of the largest mining pools in the country, older models such as Ant S7, T9, Avalon A741, and Shenma M3 have already reached the shutdown price
It is reported that due to the plunging of the cryptocurrency market, the world-renowned graphics card manufacturer Nvidia’s share price has also shown a sharp decline. In the past month or so, as the most dazzling artificial intelligence concept stock in the US stock market, Nvidia (NVDA), its share price has fallen continuously, from the highest of 292.76 US dollars on October 1, 2018, to a minimum of November 20, 2018. The lowest price is $133.31, and the stock price retracement is over 50%. According to Bloomberg Intelligence, bitcoin prices may fall to $1,500 and 70% of market value will evaporate. In response to the plunge in bitcoin, netizens commented that “there is no value in relying entirely on hype,” and some people complain that the emergence of bitcoin mining has pushed up the price of video cards and hopes that bitcoin will disappear quickly.