How Adoption of Cryptocurrencies (e.g., Bitcoin) as a Mainstream Form of Payment Might Be Affected as High-Frequency Trading Becomes More Prevalent Among Major Currencies

Public project summary

The aim of this research project is to determine whether or not there is price correlation between Nvidia GPUs and Bitcoin. As Bitcoin becomes increasingly popular, the demand for graphics processing units (GPUs) has reached new heights. GPUs are needed because “miners,” or people who use computing power in exchange for Bitcoin, use them specifically because of their superior efficiency compared to traditional computer processing units (CPUs). However, recently, there has been a shortage of GPUs resulting in dramatic price increases negatively impacting the average consumer by forcing them to pay inflated prices. This project will analyze price data of various GPUs and Bitcoin over a period of time to determine whether Bitcoin is the primary driver of GPU price changes or whether other factors are to blame.