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 (12/16): Three thoughts.....
- Long bitcoin/short gold (stay the course)
- Long bitcoin/cover gold short (or % of gold short)
- Long bitcoin/long gold (long gold for trade)
Buy target for gold stands at 1110-1120.
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 |
| 12/16 | $778.56 | +1.57 | +35.4% | $1130 | -14.0 |
-16.3%
|
| 12/17 | $780.91 | +2.35 | +35.8% | $1136 | +6.0 | -15.9% |
*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)