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.
3/9/18 Closing Prices:
Bitcoin: $9,016.25 (-$867.33)
Gold: $1,323 (+$1)
Dow Jones Industrials: 25,335.74 (+440.53)
S&P 500: 2,786.57 (+47.60)
Nasdaq Composite: 7,560.81 (+132.86)
Trading Summary Notes for Friday, 3/9/2018
- BITCOIN drops sharply on a large trader raising cash
- Japanese crypto exchange Coincheck was hacked for $530M. Will make clients good on losses. Looks like Coincheck is raising cash by selling bitcoin to cover client losses.
- Bitcoin sharp selling coincides with with hack. Selling done soon?
- Several exchanges in Japan have been suspended for a month due to lax controls and reducing trading activity
- Regulating (in some form) would be a plus for bitcoin
- Some regulation will be BULLISH for bitcoin (cryptocurrencies)
- GOLD adds $1 in super quiet trade.
- With equities and bitcoin interest in gold is missing
- Very bullish on 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