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Knowing how to find new equilibrium prices and quantities from changes in supply and demand is key to understanding the basics of microeconomics. It is equally important to understand what goes on in markets as they are adjusting . sometimes very slowly, to a new equilibrium.

The hype and potential lucrative endeavor of mining Bitcoin and other cryptocurrencies drastically increased the demand for computer graphic processing units (GPUs) leading to a severe shortage in this market. Although mining bitcoin using GPUs began around 2011-2012, the huge spike in demand became clear around 2016 when the price of Bitcoin started to skyrocket.