By Bill Taylor-CEO, FintekNews & CIO, TLC Capital Group
Friends, in celebration of the Chicago Mercantile Exchange’s (CME) launch of two new bitcoin indexes (BRR & BRTI), is going to compare the price of bitcoin and gold on a daily basis. We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.** Bitcoin IS the new gold.
Trading Notes (1/10): Long bitcoin/short gold is a long term position. That said, it is tough to hold. Don’t like being wrong (like my comment yesterday) but not every day is a winner. Gold wins the day. Parity WILL still happen. Be truthful, buying bitcoin on dips (big dips actually) is better than buying at the highs……right. Still, price action does not make me a fan of gold. Don’t chase.
We wrote an article (8/17) going on the record saying bitcoin will outperform gold throughout the future. Thechart below compares the pricing on that date to the two most recent trading days, as reference.
Bitcoin vs. Gold Daily Pricing Chart
|Daily Points +/-||Since Inception +/-||Gold Close||Daily Points +/-||Since
** Please see FintekNews.com articles for reference on pricing below”
BITCOIN-GOLD UPDATE (Published 10/26/16)
BITCOIN-GOLD: $2K $3K? Published 8/17/16)