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 millennialiterally 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.