BITCOIN Struggling in Slow Trade, Flashing Caution; GOLD Unchanged & Neglected (5/17/18)

Bitcoin Gold


By Bill Taylor, Contributor

We compare the price of Bitcoin, Gold & Major Market Averages on a daily basis, and use the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

5/17/18 Closing Prices:

Bitcoin:  $8,313.52  (+$111.50)
Gold:  $1,290  (-$0-) 
Dow Jones Industrials:  24,713.98  (-54.95)
S&P 500:  2,720.13  (-2.33)

Nasdaq Composite:  7,382.47  (-15.82)

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

Trading Summary Notes for Thursday, 5/17/2018

  • Sellers taken over the BITCOIN trade. Too many longs in the world?
  • SOLD BITCOIN AT $8,190 ON STOP
  • More sellers than buyers may cause bitcoin to trade lower. $7,000-$7,500?
  • Bitcoin price ‘action’ not a positive currently
  • Higher dollar and fears of more interest rate hike hurting GOLD
  • Gold steadies at $1,285-$1,290. No interest in precious metals currently
  • Inflation fears/expectations, political uncertainties are being ignored
  • Neutral on gold; may see more weakness

CURRENT TRADING POSITION:   NO CURRENT POSITIONS



CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time