BITCOIN Inches Up (Yawn!); GOLD Eases Off (Yawn!) (1/9/18)

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.

1/9/18 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)

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

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


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

Read our PRIOR daily commentaries on Bitcoin vs Gold here