Bitcoin Hits $1300, Markets Soften, Gold Wanders

 

Bitcoin Gold
Welcome to our new streamlined format for Bitcoin vs Gold 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.

4/26/17 Closing Prices:

Bitcoin: $1297.50 (+$26.11)
Gold:
 $1269 (+$5.00)
Dow Jones Industrials: 20,975.09 (-21.03)
S&P 500: 2,387.45 (-1.16)
Nasdaq Composite: 6,025.23 (-0.27)

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

Trading Summary Notes for Wednesday, 4/26/17:

  • Bitcoin trades above $1300 intraday, closes at new all time high
  • Bitcoin momentum very strong
  • Bitcoin near term price target $1425-$1475
  • Gold wandering around with no momentum
  • Gold is VERY over owned and in a VERY crowded trade
  • No opinion on gold

CURRENT POSITION: LONG BITCOIN

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here

We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.