BITCOIN MOVING ON UP; GOLD MOVING ON DOWN (10/5/17)

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.

10/5/17 Closing Prices:

Bitcoin:  $4,305.36  (+$93.44)
Gold:  $1,2769  (-$7.00)
Dow Jones Industrials: 22,775.39  (+113.75)
S&P500: 2,552.07  (+14.33) 

Nasdaq Composite:  6,585.36 
(+250.73)

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

Trading Summary Notes for Thursday, 10/5/2017

  • BITCOIN starting another ascent to take out old highs
  • $6,000? Well, first $4,500 and then $5,000. THEN $6,000
  • Momentum building, BUT always use trading stops
  • GOLD continues sliding. Should have support in the $1,250 area
  • Stronger dollar and strong stock market gets people out of gold
  • Don’t be fooled. Stocks CAN go down and gold will reverse
  • Gold traders look at $1,255- $1,260 for a buying opportunity

Past Market

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
See other content on bitcoin & digital currencies here