BITCOIN ROCKETING, Gold Stumbling

bitcion s&p

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. FintekNews uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

5/4/17 Closing Prices:

Bitcoin: $1,584.73 (+$117.01)
Gold:
 $1,228 ($-11.00)
Dow Jones Industrials: 20,951.47 (-6.43)
S&P 500: 2,389.52 (+1.39)
Nasdaq Composite: 6,075.34 (+2.79)

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

Trading Summary Notes for Thursday, 5/4/17:

  • Bitcoin powerful uptrend and momentum intact
  • Bitcoin near term price target $1750-$1800
  • Bitcoin traders raise sell stops from $1400-$1415 TO $1485-$1495
  • Gold breaking down badly. Very over crowded trade.
  • Near term gold downside price target $1175-$1185
  • LONG BITCOIN/SHORT GOLD

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here

We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.