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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.
5/3/17 Closing Prices:
Bitcoin: $1,467.62 (+$2.91)
Gold: $1,239 ($-18.00)
Dow Jones Industrials: 20,957.90 (+8.01)
S&P 500: 2,388.13 (-3.04)
Nasdaq Composite: 6,072.55 (-22.82)
Trading Summary Notes for Thursday, 5/3/17:
- Bitcoin uptrend very powerful. New highs again……….trading $1500 after this post
- Raising Bitcoin price target from $1425-$1475 TO $1750-$1800
- Bitcoin sell stops should be raised to $1400-$1415.
- Gold breaking down. No reason to won gold.
- Gold closing below $1250 (it did) very bearish
- I have shorted gold at $1249 on a sell stop as recommended yesterday
- Gold near term downside target $1175-$1185
- Gold can be shorted.
- LONG BITCOIN/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.