BITCOIN Sells Off On Rumors/Fears; GOLD Steady and Firm (1/8/18)

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.

1/8/18 Closing Prices:

Bitcoin:  $14,477.79  (-$1,506.97 from Friday’s close)
Gold:  $1,320  (+$1.00 from Friday’s close) 
Dow Jones Industrials:  25,283.00  (-12.87)
S&P 500:  2,747.71 (+4.56)

Nasdaq Composite:  7,157.39  (+20.83)

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

Trading Summary Notes for Monday, 1/8/2018

  • BITCOIN gets hit with rumors China may “tinker with” the miners. China fears unfounded
  • Overall crypto selloff spills over to bitcoin. Remember, not ALL alt coins are “for real”
  • Bitcoin seems to have found a “home” around $15K……a little higher, a little lower. Market getting efficient?
  • May be in a “choppy” trading market for a while. Let the hype settle down
  • Still have a price target of $30K
  • GOLD is in a strong uptrend. Looking at $1,350 near term
  • A big story for 2018? Inflation led by strong wage increases
  • Top 2018 “HOT” picks………..both BITCOIN & GOLD

CURRENT TRADING POSITION:  Long GOLD & BITCOIN


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

Read our PRIOR daily commentaries on Bitcoin vs Gold here