BITCOIN DROPS BIG; GOLD DROPS SMALL (10/18/17)

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.

10/18/17 Closing Prices:

Bitcoin:  $5,174.71  (-$428.01)
Gold:  $1,281  (-$5)
Dow Jones Industrials:  23,157.60  (+160.16)
S&P500:  2,561.26  (+1.90) 

Nasdaq Composite: 6,624.22 
(+0.50)

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

Trading Summary Notes for Wednesday, 10/18/2017

  • BITCOIN falls farther from the highs. Equity markets UP, bitcoin DOWN????
  • Is bitcoin a “risk off” trade to equities? NO! Just normal profit taking from big run up
  • May have more downside to go with a test of $5,000. Stay tuned
  • GOLD eases a bit lower. Moving back toward $1,250
  • May test the $1,250-$1,255 area. Lets be a buyer in that area
  • LONG TERM BULLISH ON BITCOIN AND GOLD

Current TRADING Positions:  NO current TRADING positions

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
See other content on bitcoin & digital currencies here