Expect New Lows if Bitcoin Remains Under $106,000: Analyst

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Zcash has been one of the climbers this cycle, pushing from the $200 zone all the way toward $600 without much noise from the broader market. But now, after an extended run and clear signs of slowing momentum, traders are starting to ask the obvious question: is the ZEC price rally finally running out of

The post China’s Ban on Nvidia Chips for State Firms Sends Stock Tumbling appeared on BitcoinEthereumNews.com. Cyberspace Administration of China (CAC) has instructed big companies to stop purchasing and cancel existing orders for Nvidia’s RTX Pro 6000D chip The ban is part of China’s ongoing effort to reduce dependency on US-made AI hardware, especially after restrictive US export rules After the news, Nvidia shares dropped in premarket trading by about 1.5% Cyberspace Administration of China (CAC) has instructed big companies like Alibaba and ByteDance to stop purchasing and cancel existing orders for Nvidia’s RTX Pro 6000D chip. The ban is part of China’s ongoing effort to reduce dependency on US-made AI hardware, especially after restrictive US export rules. The RTX Pro 6000D was tailored for China to comply with some export rules, but now the regulator says even that chip is off-limits. After the news, Nvidia shares dropped in premarket trading (around 1.5%), reflecting investors’ concerns about reduced demand in one of the biggest markets. This isn’t the first time China has done something like this. For instance, in August, the country urged firms not to use Nvidia’s H20 chip due to potential security issues and the need to comply with international export control regulations. Meanwhile, Alibaba and Baidu have begun using domestically produced AI chips more heavily, which shows that China is seriously investing in building its own chip-making capacity. Additionally, a few days ago, Chinese regulators opened an antitrust review into Nvidia’s Mellanox acquisition, suggesting the company may have broken some of the promises it made to get the 2020 deal passed. From AI to blockchain and the possible effects of China’s ban The banning of Nvidia chips represents a rather notable escalation in the technological rivalry between the United States and China. Beyond tariffs or export bans, China is now proactively telling its firms to avoid even “compliant” US chips and instead shift…