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.
5/15/17 Closing Prices:
Bitcoin: $1,728.41 (-$49.46)
Gold: $1,230 (+$2.00)
Dow Jones Industrials: 20,981.94 (+85.33)
S&P 500: 2,402.32 (+11.42)
Nasdaq Composite: 6,149.67 (+28.44)
Trading Summary Notes for Friday, 5/15/17:
- Bitcoin continuing pullback after last weeks all time highs
- Expecting further weakness before “finding a bottom”.
- BITCOIN NO NEAR TERM PRICE TARGET YET
- Gold drifting between $1220 and $1250
- Gold over-owned. No reason to own gold here
- Gold near term downside price target $1175-$1185
- Current position SHORT GOLD.
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.