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.
11/29/17 Closing Prices:
Bitcoin: $10,761.50 (+$863.09)
Gold: $1,285 (-$9-)
Dow Jones Industrials: 23,940.68 (+103.97)
S&P 500: 2,626.07 (-0.97)
Nasdaq Composite: 6,824.39 (-87.97)
Trading Summary Notes for Wednesday, 11/29/2017
- BITCOIN rockets thru $10K, then $11K………then dives back under $10K
- Bitcoin enjoying the Consensus NY event with a “bullish bounce”. Always happens
- Crypto volatility is off the charts. Short term bitcoin high?
- Talk of $40K bitcoin, $100K bitcoin AND $1M bitcoin is a touch scary.
- Long term bitcoin holders should be OK, short term traders maybe not so much
- GOLD settles back down a little
- Gold bumping resistance at $1,295-$1,300
- Gold is under-owned, over looked and in the shadow of bitcoin
- Gold WILL be the surprise move to the upside. Upside target $1,350
- LONG TERM BULLISH ON BITCOIN AND GOLD
CURRENT TRADING POSITION: LONG GOLD