BITCOIN DROPS AGAIN (In Quicksand?); GOLD Slinks Up. (6/27/17)

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, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

6/27/17 Closing Prices:

Bitcoin: $2,315.09  (-$153.05)
Gold: $1,248  (+$4.00)
Dow Jones Industrials: 21,310.66 (-98.89)
S&P500: 2,419.36  (-19.69
Nasdaq Composite: 6,146.62

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

Trading Summary Notes for Tuesday, 6/27/17:

  • Bitcoin still has an Ethereum “hangover”. Memories of last weeks flash crash still fresh
  • Bitcoin under pressure with some long liquidation out of “weak” hands
  • Bitcoin trading like stuck in quicksand. Sinking and sinking and………………
  • A break below $2,000 should trigger some new buying interest
  • Still long term bullish on bitcoin.
  • Gold still holding support area of $1240. Close below $1240 would be bearish
  • Going “neutral” on gold for now.

Current Position LONG GOLD

Past Market:

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here