BITCOIN Drops Hard On Regulation Worries, Under $10K; GOLD Sits, Off $2 (3/8/18)

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.

3/8/18 Closing Prices:

Bitcoin:  $9,883.58 (-$765.33)
Gold:  $1,322  (-$2) 
Dow Jones Industrials:  24,895.21  (+93.85)
S&P 500:  2,738.97 (+12.17)

Nasdaq Composite:  7,427.95 (+31.30)

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

Trading Summary Notes for Thursday, 3/8/2018

  • BITCOIN sinks below $10K on SEC “chatter” of regulating exchange platform
  • Down 18% over past few days on scrutiny of exchanges
  • Regulating exchanges would bring credibility and trust
  • Regulating (in some form) would be a plus for bitcoin
  • Some regulation will be BULLISH for bitcoin (cryptocurrencies)
  • GOLD gives up a couple of dollars ($2) in very quiet trade
  • Tariffs and inflation fears make for a very potent bullish case for gold
  • Gold is getting ready to challenge $1,400……………at some point. $1,350 first
  • Top 2018 “HOT” picks……… long both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD



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

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