By Bill Taylor-CEO, FintekNews & CIO, TLC Capital Group
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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 (1/34: Whoa. Let's not make any position changes. Long bitcoin/short gold. The old highs in bitcoin around $1200 will soon be history. Much room to move on the upside. At some point (not now) moving some profits into a more stable gold will make sense.
We wrote an article (8/17) going on the record saying bitcoin will outperform gold throughout the future. The chart below compares the pricing on that date to the two most recent trading days, as reference.
Bitcoin vs. Gold Daily Pricing Chart
| Date | Bitcoin Close | Daily Points +/- | Since Inception +/- | Gold Close | Daily Points +/- | Since Inception +/- |
| 8/17 | $575 | N/A | N/A | $1350 | N/A | N/A |
| 1/3 | $1018.51 | +$65.55 | +77.1% | $1161 | +9.0 | -14.0% |
| 1/4 | $1087.86 | +$69.35 | +89.2% | $1164 | +3.0 | -13.8% |
*CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
** 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)