Welcome to our new streamlined format for Bitcoin vs Gold (and beyond) and look for additional changes over the coming weeks, including a new logo and more.
FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis. FintekNews uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
5/16/17 Closing Prices:
Bitcoin: $1,740.55 (+$12.14)
Gold: $1,237 (+$7.00)
Dow Jones Industrials: 20,979.95 (-2.19)
S&P 500: 2,400.67 (-1.65)
Nasdaq Composite: 6,169.87 (+20.20)
Trading Summary Notes for Friday, 5/16/17:
- Bitcoin steady here in the $1700-$1750 area SO FAR
- May see some further weakness. Could place “new” buy orders in the $1625-$1650 range
- Neutral on Bitcoin currently.
- Closed short gold position @ $1234
- Neutral on gold currently
- Gold seems trapped in the $1225-$1250 range. DEAD MONEY.
NO CURRENT POSITIONS
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.