BITCOIN S&P Parity?? Well Why Not!! Short Gold.

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.

5/3/17 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)

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

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

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.