BITCOIN STEADY AFTER BTCC LAUNCH; GOLD JUST HANGING OUT. (8/1/17)

Bitcoin Gold

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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.

8/1/17 Closing Prices:

Bitcoin:  $2,704.68  ($-67.62)
Gold:  $1,270  ($-0-)
Dow Jones Industrials:  21,963.92  (+72.80)
S&P 500:  2,476.35  (+6.05)

Nasdaq Composite:   6,362.94 
(+14.81)

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

Trading Summary Notes for Tuesday, 8/1/2017

  • Bitcoin has survived Aug. 1st…..so far. Uncertainty causes malaise
  • There are now 2 bitcoins………BTC & BTCC (Bitcoin & Bitcoin Cash). Confused?
  • Bitcoin Cash still is NOT trading. Expect the next few days
  • While all this shakes out it is best to be an observer. Will BTCC ‘hurt” BTC? Which will become dominant? Will both thrive? When in doubt, stay out.
  • BUT, Buy the dips on bitcoin. Looks like a break above $3,000 (all time highs) is coming
  • No changes on gold. Buy gold on dips against sell stop at $1,250
  • Gold looking to test $1,300. Solid momentum building
  • LONG TERM BULLISH ON BITCOIN & GOLD

No Current TRADING Positions

Past Market:



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