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.
1/9/18 Closing Prices:
Bitcoin: $14,655.83 (+$178.04)
Gold: $1,314 (-$6.00)
Dow Jones Industrials: 25,385.80 (+102.80)
S&P 500: 2,751.29 (+3.58)
Nasdaq Composite: 7,163.58 (+6.19)
Trading Summary Notes for Tuesday, 1/9/2018
- BITCOIN shakes off yesterday’s “worries” and inches higher
- The $15K area seems to be a “way point” for now on bitcoin’s journey. Market efficiency?
- Countries and regulators (China, South Korea, etc) can’t constrain the strong bitcoin demand (“it won’t die, it won’t die”)
- May be in a “choppy” trading market for a while. Let the hype settle down
- Price target on next big move…….$30K
- GOLD takes a break and drops a couple dollars.
- Interest rates tick up a touch, gold eases a touch
- A big story for 2018? Inflation led by strong wage increases. Very bullish for gold
- GOLD is in a strong uptrend. Looking at $1,350 near term
- Top 2018 “HOT” picks………..both BITCOIN & GOLD
CURRENT TRADING POSITION: Long BITCOIN & GOLD