BITCOIN PLUNGE COMING? Gold Reverses Early Gains. Fed Did It.

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.

6/14/17 Closing Prices:

Bitcoin: $2,606.03 (-$119.39)
Gold:
 $1,260 (-$7.00)
Dow Jones Industrials: 21,374.56 (+46.09)
S&P500: 2,437.92 (-2.43)
Nasdaq Composite: 6,194.89 (-25.48)

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

Trading Summary Notes for Wednesday, 6/14/17:

  • Bitcoin has problems. Trading with/like tech stocks?
  • SOLD BITCOIN @ $2640.
  • Cancel near term buy area of $2450-$2500
  • Bitcoin looks like a big plunge inevitable…………..and I’m a bull
  • Gold reverses early gains
  • Gold appears to be back at the lower area of the $1240-$1300 range
  • Looks like gold will NOT challenge and break out above $1300…..for a while
  • Gold reacting to lower inflation expectations from the Fed
  • Holding gold

Current Position LONG GOLD

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here