BITCOIN Backs Off, Awaits Futures; GOLD Steadies, Anyone Care? (12/8/17)

Bitcoin Gold

FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

12/8/17 Closing Prices:

Bitcoin:  $16,049.31 (-$585.70)
Gold:  $1,248  (+$1)
Dow Jones Industrials:  24,329.16  (+117.68)
S&P 500:  2,651.50  (+14.52)

Nasdaq Composite:  6,840.08  (+27.24)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Friday, 12/8/2017

  • BITCOIN sells off a bit. Waits for futures to start trading Sunday evening
  • Bitcoin futures may be available, BUT will anyone trade them?
  • Very VERY frothy and unstable. Time to take a rest
  • Bitcoin futures probably WON’T trade enough to affect actual bitcoin. Don’t expect something big
  • Next stop? $20k OR $10K?
  • GOLD picks up a whole dollar. Wow!
  • Basically there is very little interest in gold……for now
  • Remember, this is the slowest gold action since 2005. Remember 2006-2007? Check a chart
  • Gold most overlooked asset class in the world. Buy low, sell high. I LIKE GOLD
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION:  LONG GOLD

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Read our PRIOR daily commentaries on Bitcoin vs Gold here