Bitcoin IS the New Gold
In celebration of the Chicago Mercantile Exchange’s (CME) launch of two new bitcoin indexes (BRR & BRTI), FintekNews is comparing the price of bitcoin and gold on a daily basis.
Trading Notes for Tuesday, 2/7/17:
- China foreign exchange reserves fall big.
- Bitcoin reacts POSITIVELY. Gold did not.
- Be long, get long, stay long bitcoin, short gold as a hedge.
- This position is almost a 100% return since Aug 23, 2016. Why change?
Hello, PARITY on the horizon.
Bitcoin vs. Gold Daily Pricing Chart
|Daily Points +/-||Since Inception +/-||Gold Close*||Daily Points
* Prices are from CME’s BRR index as of 4:15 EST; gold as of 4:15 EST near term future
** Inception began Aug. 17, 2016 (see FintekNews article)
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. The chart above compares the pricing on that date to the two most recent trading days, as reference. We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.
Please see following FintekNews articles for reference on pricing in graph:
BITCOIN-GOLD UPDATE (Published 10/26/16)
BITCOIN-GOLD: $2K $3K? Published 8/17/16)
By Bill Taylor-CEO, FintekNews & CIO, TLC Capital Group