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 (12/9): Once again! Bitcoin has replaced gold as a safe haven and just a plain great trading position. For the week; Bitcoin lost a whopping 48 cents. Gold, lost $17. Enough said.
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 |
| 12/8 | $769.88 | +5.38 | +33.9% | $1172 | -4.0 |
-13.1%
|
| 12/9 | $772.03 | +2.15 | +34.3% | $1161 | -11.0 | -14.0% |
*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)