BITCOIN Sells Off More On SEC Regulation Talk; GOLD Gives Up $9 (3/7/18)

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.

3/7/18 Closing Prices:

Bitcoin:  $10,648.91  (-$342.89)
Gold:  $1,324  (-$9) 
Dow Jones Industrials:  24,801.36  (-82.76)
S&P 500:  2,726.80  (-1.32)

Nasdaq Composite: 7,396.65  (+24.64)

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

Trading Summary Notes for Wednesday, 3/7/2018

  • BITCOIN weakens a bit more on “worries” SEC is looking at regulating crypto platforms
  • Regulating (in some form) would be a plus for bitcoin. Regulating exchanges brings credibility and acceptance
  • Some regulation will be BULLISH for bitcoin (cryptocurrencies)
  • Bitcoin volatility settling down. Markets becoming more efficient
  • Looking at $12K-$12,500 as a resistance area
  • Looking at $10K-$10,500 as a support area
  • GOLD gives back some of yesterday’s sharp gains on tariff’s compromise talk
  • Tariffs and inflation fears make for a very potent bullish case for gold
  • Gold is getting ready to challenge $1,400……………at some point. $1,350 first
  • Top 2018 “HOT” picks……… long both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD



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

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