Bitcoin vs Gold (2/9)

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, 2/9/17:

  • China, China China       
  • PBoC threatening to close down domestic bitcoin exchanges
  • Gold certainly performed better today, still lagging
  • Unless China does take action, $900-$950 is buying opportunity
  • Stay long bitcoin, short gold…………s*** happens


Bitcoin vs. Gold Daily Pricing Chart

Date

Bitcoin Close*

Daily Points +/-

Since Inception +/-

Gold Close*

Daily Points 
+/-

Since
Inception
+/- **

 8/17/16 

$575 

N/A 

N/A 

 $1350 

N/A 

N/A 

 2/8/17

 $1048.30   

+$2.01  

 +82.3% 

 $12365

-$1.00

-8.5% 

 2/9/17

$971.77

-$76.53  

+69.0% 

 $1232 

-$10.00

-8.7% 

 
* 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)


CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index


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)

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By Bill Taylor-CEO, FintekNews & CIO, TLC Capital Group