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)
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