Cryptocurrency Market Bounces Back, With Bitcoin and Ethereum Up 25% in One Week

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The news of the cryptocurrency market’s death may have been greatly exaggerated, with Bitcoin and Ethereum rebounding again from their abrupt correction of just a few weeks ago. Bitcoin has risen 12% over the past 24 hours and Ethereum has climbed around 10% over the same period. Since most cryptocurrencies are still tied to the value of Bitcoin, this means a rebound in most of the market.

With today’s gains, last week Bitcoin is up around 25%, while Ethereum beat it with a 27% increase in the same time frame. The move follows last week’s announcement that Amazon was considering accepting Bitcoin as a valid payment method for purchases in its storefront. It is also committed to developing a digital currency and blockchain strategy and product roadmap for integrating cryptocurrency into its service framework.

Price for Bitcoin, Ethereum according to Coinmarketcap (Image credit: Coinmarketcap)

All of this combined means that users looking for the best latest-gen graphics cards may well temper their expectations of the price drop. As we have seen, the drop has already abated and you can rest assured that the increase in Ethereum’s price means a better return on investment (return on investment) for miners who still hold their cards – and probably higher market demand for non-LHR graphics cards. always in the retail or second-hand markets.

The market price of cryptocurrency is even less of an exact science than finance or the stock markets, and fluctuations of 30% in value are not unheard of. That said, if you’re a PC enthusiast and looking for one of those shiny unicorn-type graphics cards, these upward price swings isn’t the news you’d want to hear. It is, and we will continue to monitor overall GPU market trends in our graphics card price index.

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