BITCOIN JUMPS ON CHINA NEWS, Gold Dips Slightly

Bitcoin Gold

Welcome to our new streamlined format for Bitcoin vs Gold (and beyond) 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, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

6/1/17 Closing Prices:

Bitcoin: $2,440.80 (+$213.33)
Gold:
 $1,267 (-$2.00)
Dow Jones Industrials: 21,144.18 (+135.53)
S&P500: 2,430.06 (+18.26)
Nasdaq Composite: 6,246.83 (+48.31)

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

Trading Summary Notes for Monday, 6/1/17:

  • News from China that allows bitcoin withdrawals from previously ‘frozen’ accounts
  • Bitcoin momentum building again?? May just be a “quick pop up”. Patience
  • Bitcoin entry/re-entry point $1,950-$2,000
  • Gold dips slightly. Still in tight range.
  • Gold upside resistance @ $1285-$1300
  • Gold has support @ $1225-$1235

NO CURRENT POSITION