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Author Topic: Silver is loosing ground due to rise of cryptocurrencies  (Read 1107 times)
privedvelosiped
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July 26, 2018, 03:42:37 PM
 #21

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

Investing in precious metals, it has long been a very reliable investment. I too would like to invest my surplus money in gold or silver. But I think that very soon the price of diamonds will grow much more. Cryptocurrency, it goes in parallel to all the jewelry, but do not miss this opportunity to buy today at a bargain price. How can you know exactly what will happen to cryptocurrencies in 5 years?

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July 27, 2018, 01:45:57 AM
 #22

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.
Silver is a very useful metal, so if you can, get your hands on some while the price is still very cheap, basically you need to do the same you do with cryptocurrencies, you need to take a position early so when the bull market finally comes you do not buy at high prices, now about whether this is a good thing or not, I think this is a good thing since a lesser interest in silver means cheaper prices and that is always good for the smart investor.
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July 27, 2018, 05:08:28 AM
 #23

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

People nowadays are just being practical in their living,because why need to value silver when the value of this are dropping when we sell this not like the price when we bought this.while in cryptocurrency the value is continuously growing that even dip comes but in future this dropping recovers and grows higher than the previous

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July 27, 2018, 05:21:35 AM
 #24

The price of silver is always unstable. The real stable price is gold, so gold can be used as a store of value. BTC has no such potential at present.

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July 27, 2018, 05:35:11 AM
 #25

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

It makes sense why these metals are losing ground in favor of a more digital option of currency. Bitcoin and other cryptocurrencies are quickly gaining ground and it makes sense why gold and silver and other precious metals are becoming obsolete. More people want to invest into cryptocurrency rather than precious metals because cryptocurrency is the future and precious metals are becoming more and more obsolete. Metals, especially gold, have been used by humankind as a medium of exchange for millennia—literally since their discovery. If you, theoretically, had invested $100 in Bitcoin this time last year, right now, in the fall of 2017, you would have nearly $900 dollars. There absolutely was money to be made, and there could possibly be similar opportunities again.

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July 27, 2018, 05:43:12 AM
 #26

Silver is a precious metal.Cryptocurrency is a means of accumulation and payment for goods or services.These 2 things lie in different planes.They cannot be compared.The price of silver is approximately the same while the price of cryptocurrency can change 2 times a day.As for me, this news is neither good nor bad


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efxtrader
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July 27, 2018, 08:39:35 AM
 #27

I am still believe gold and silver is still good investment in the future. Gold and silver price drop right now because The Fed want to increase interest rate and its affecting on many commodities price.
But in next few years, i think cryptocurrency will more rising because peoples know they are living on digital era and cryptocurrency is one solution to make their bussiness more eficient.

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July 27, 2018, 02:16:28 PM
 #28

Here's an article on the subject that I've found. It may even be OP's reference:

https://www.moneycontrol.com/news/business/markets/silver-losing-ground-due-to-weak-currency-rise-in-crypto-currencies-mania-2745521.html

It seemed like the article only mentioned cryptocurrencies because it's a hot topic. It was only mentioned once in the article:

Quote
A strong global equity market and new investment elements such as cryptocurrencies have curbed the demand for metals like silver.

...so basically, it's competing with new investment elements such as, but not necessarily cryptocurrencies. I personally don't believe there's a very strong correlation between the two. It sounds like a knee-jerk reaction over very recent trends to me.

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July 27, 2018, 08:03:45 PM
 #29

Golds and silvers are always precious. Maybe we will have the opportunity to buy them with cryptocurrencies but they are comparable with these digital currencies.
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July 27, 2018, 09:08:35 PM
 #30

Other assets will slowly loose their values, as crytpo is being highly adapted and gradually accepted all around the world. People are investing in cryptos and the digital market everyday, and the list is just increasing. Although, comparison between silver and bitcoin is not defensible as silver has physical existence, counted as tangible and bitcoin doesn't, its intangible.
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July 27, 2018, 11:05:42 PM
 #31

once bitcoin released and growth every one compared bitcoin to gold but the gold market was unaffected now silver most volatile commodity is now getting affected to cryptocurrencies growth it means cryptocurrencies are next commodity
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July 27, 2018, 11:26:46 PM
 #32

It's not just silver. I think even gold and other precious stones must have had their investment diverted to Bitcoin and cryptocurrencies. Investors need a place where they can get the maximum ROI within the shortest possible time with minimal stress.

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July 27, 2018, 11:41:16 PM
 #33

In many developing countries where gold and silver are so important almost every function in the house is related with it , the dieties the important utensils , earrings and other ornaments , these precious stones are always over the top.
Now the recent survey shows that silver is loosing ground due to cryptocurrencies, and these precious stones are now getting cost stabilized.
What you think is it a good or a bad news ?
Well personally I think it's a pretty good news more and more people will be able to afford it and also I think these precious metals are over valued so it's doing good that it's somehow getting their value down and establishing it's own place.

Do you have links about this silver stabilize issue? Because here in our country Gold and Silver are still the most known assets or investments because Crypto is not just popular. Silver is very useful in the community so i think the demand will never fade so that is why i don't believe that the price will be stabilize because of crypto as what you have said although this will favor the crypto investment if ever silver will be low in demand.

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July 28, 2018, 03:11:46 AM
 #34

I don't think that Silver is losing to crypto right now. If this is the peak of bitcoin, then we can say yes, but crypto is also struggling as well so there's no correlation. Perhaps Silver price is down, but it not due to crypto and maybe silver investors are shifting their funds around to maybe Gold or other precious metals. Maybe this is just short term, as every class assets and market then we are aware of are currently down (stocks, crypto or even precious metals).
            It is common that markets will gonup and down depending to what happen or the current events that can trigger the prices in the market, but i don't think that solid investments such as silver and gold are loosing because of crypto as of now but we could see that both of them are suffering at low price as of now.


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July 28, 2018, 05:22:29 AM
 #35

These sort of issues are inevitable. All good things come to an end. Even the once ruling the market good such as gold an silver is facing the end. This is how life is and how the market operates. A new and better version will replace the old one. 
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July 28, 2018, 05:15:59 PM
 #36

The price of Silver merely can be dependent with BTC or cryptocurrencies thus it can be related with Gold. The price of gold and silver are most stable and they are a tangible and physical resource. BTC and altcoins are intangible currencies which now can be traded over and can be sold in online markets. Recently, Gold and BTC trading started, so here you may relate these two in price changing or any other things. What you told may be true in your eyes but most of the crypto enthusiasts won't be able to relate them logically.
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July 28, 2018, 05:32:06 PM
 #37

From my point of view this is not the reason. Although crypto is going be good but but both of this are completely different. I can say people buy gold and silver through crypto in future. But for sure crypto control the whole world in future.
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July 28, 2018, 06:03:57 PM
 #38

Yes, I also think that precious metals are overestimated. We all know that the supply and demand relationship determines the price, but the demand for precious metals is not too big, and as an investment commodity, the yield of gold and silver is very poor.
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July 28, 2018, 06:26:44 PM
 #39

I think we can not compare bitcoin and silver in this way. But if this news is true then we can realise t.he bitcoin potentials. Although silver and gold are more secure than others beside this bitcoin is more profitable then any other investment I think
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July 28, 2018, 07:05:32 PM
 #40

I think we can not compare bitcoin and silver in this way. But if this news is true then we can realise t.he bitcoin potentials. Although silver and gold are more secure than others beside this bitcoin is more profitable then any other investment I think
I think in the future, Bitcoin will be used to buy silver and gold. Thus, the current price of silver is likely to be affected by the price of cryptocurrency. Not only silver and gold, but other currencies will also be affected by the price of Bitcoin

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