BITCOIN DIVES Discovers Gravity Gold Watches Quietly

 

Bitcoin Gold
Welcome to our new streamlined format for Bitcoin vs Gold (and beyond) and look for additional changes over the coming weeks, including a new logo and more. 

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

5/12/17 Closing Prices:

Bitcoin: $1,777.87 (-$72.52)
Gold:
 $1,228 (+$4.00)
Dow Jones Industrials: 20,896.61 (-22.81)
S&P 500: 2,390.90 (-3.54)
Nasdaq Composite: 6,212.23 (+5.27)

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

Trading Summary Notes for Friday, 5/12/17:

  • Bitcoin sells off sharply after huge runup
  • STOPPED OUT OF BITCOIN POSITION AT $1742
  • Looking for “re-entry” point for bitcoin.
  • Bitcoin trading much lower ($1710) late Friday
  • LONG TERM BULLISH ON BITCOIN
  • Gold shows a whimper of strength
  • Near term downside price target on gold still $1175-$1185
  • Gold still weak
  • Current position SHORT GOLD.

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here

We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.