Bitcoin vs Gold (12/12)

 

By Bill Taylor-CEO, Fintegration/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 (12/12):  Being long bitcoin and short gold is a long term statement that bitcoin IS the new    gold, a digital gold as it were. Totally on record of that. But, not to say that trading around the gold position is not a bad idea. Gold is much more liquid and easier to trade. What I am saying is, somewhere down here gold may be a tradeable buy…………..$1110-1120? Just don’t lose the bitcoins.

We wrote an article (8/17) going on the record saying bitcoin will outperform gold throughout the future. Should you have done that (long bitcoin, short gold) you would be up $314.87 or 41.8% (see chart above). No reason to change, bitcoin has replaced gold as a safe haven.

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
12/9 $772.03 +2.15   +34.3% $1161 -11.0

 -14.0%

12/12 $778.69 +6.66  +35.4% $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)