BITCOIN Huge Plunge; Under $10K; Buy, Buy Buy? GOLD Hits Resistance, Drops $10 (1/17/18)

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.

1/17/18 Closing Prices:

Bitcoin:  $9,489.38  (-$2.687.06) 
Gold:  $1,329  (-$10) 
Dow Jones Industrials:  26,115.65  (+322.79)
S&P 500: 2,802.56  (+26.14)

Nasdaq Composite:  7,298.28  (+74.59)

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

Trading Summary Notes for Wednesday, 1/17/2018

  • BITCOIN shakes cryptoworld with huge plunge. Off over 50% from record highs
  • Negative “chatter” from regulators/governments to curb speculation seems to HAVE worked
  • Bitcoin had become very over owned. Time to “step in” on this sell-off? Why not.
  • BOUGHT BITCOIN AT $9,830. LOOKS LIKE THE “DIP” TO BUY
  • GOLD gets up (close) to upside resistance at $1,350. Turns back
  • Demand for gold getting stronger. Inflation fears/worries will persist in 2018
  • A big story for 2018? Inflation led by strong wage increases. Great story for gold
  • Top 2018 “HOT” picks………..both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD


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

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