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.
12/20/17 Closing Prices:
Bitcoin: $16,857.38 (-$1220.47) Gold: $1,265 (+$3) Dow Jones Industrials: 24,726.65 (-28.10) S&P 500: 2,679.25 (-2.22) Nasdaq Composite: 6,960.96 (-2.89)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Wednesday, 12/20/2017
- BITCOIN runs into negative news and futures sellers.
- CME & Cboe bitcoin futures traders put pressure on bitcoin
- Long transaction times are driving people away from bitcoin
- So, negative bitcoin news is getting more press. Hmmm, right after futures launch too
- Bitcoin “enthusiasm” makes the market way to “frothy”. Short term top? Looks like it. (I’ve said that before and been wrong. I’m due to be right sometime)
- GOLD inches its way higher. Investors moving back into gold
- Short term target $1,295-$1,300 as bitcoin softness encourages switch to gold
- Gold is under owned and under loved. Don’t be short 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