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.
2/22/18 Closing Prices:
Bitcoin: $9,985.75 (-$609.37)
Gold: $1,331 (+$7)
Dow Jones Industrials: 24,962.48 (+164.70)
S&P 500: 2,703.96 (+2.63)
Nasdaq Composite: 7,210.09 (-8.14)
Trading Summary Notes for Thursday, 2/22/2018
- BITCOIN can’t hold $10K. Settles just under
- Closing under the $10K round number is a psychological negative
- A little more retrenchment would not be out of line. $8,500-$9K?
- GOLD shrugs off yesterday and rallies back above $1,330….up $7.00
- Interest rates eased slightly
- Rather than interest rates, gold will begin to focus on inflation (bullish for gold)
- Top 2018 “HOT” picks……… long both BITCOIN & GOLD
CURRENT TRADING POSITION: Long GOLD