BITCOIN & S&P 500 PARITY COMING; Gold Sinks

Bitcoin Gold

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, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

5/23/17 Closing Prices:

Bitcoin: $2,238.05 (+$82.24)
Gold:
 $1,251(-$9.00)
Dow Jones Industrials: 20,937.91 (+43.08)
S&P 500: 2,398.42 (+4.40)
Nasdaq Composite: 6,138.71 (+5.09)

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

Trading Summary Notes for Tuesday, 5/23/17:

  • Go Bitcoin Go Bitcoin…………new (again) all time high
  • Bitcoin’s momentum extremely powerful
  • Upside price target………..up. No precedent but $2,500 is a nice round number
  • Gold sells off. Stuck in the swamp at $1,250 + or – $20
  • Gold upside resistance @ $1285-$1300
  • Gold has support @ $1225-$1235

Current Position LONG BITCOIN

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here