Home Bitcoin vs Gold BITCOIN Eases a Touch Lower, GOLD Inches Up a Little Higher; Quiet...

BITCOIN Eases a Touch Lower, GOLD Inches Up a Little Higher; Quiet Trade for Both (5/8/18)

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.

5/8/18 Closing Prices:

Bitcoin:  $9,130.57  (-$124.42) 
Gold:  $1,315  (+$1) 
Dow Jones Industrials:  24,360.21  (+2.89)
S&P 500:  2,671.92  (-0.71)

Nasdaq Composite:  7,266.90  (+1.69)

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

Trading Summary Notes for Tuesday, 5/8/201

  • BITCOIN settles a little lower, trades higher in later trading
  • The lower $9,000 area seems to be holding. Selling drying up?
  • BITCOIN came under pressure as Warren Buffet, Charlie Munger and Bill Gates voiced their opinions yesterday morning on TV
  • Another ‘assault’ on the $10,000 coming? Our near term price target is $12,000-$12,500
  • GOLD steadies, and holds, slightly above $1,300. Building a base?
  • A close above $1,320 would bring in buyers for a move back to $1,350-$1,355
  • President Trump pulling out of Iran deal had little effect on trading
  • Inflation will bring in gold buyer. Our price target is $1,395-$1,400

CURRENT TRADING POSITION:  Long BITCOIN & GOLD