BITCOIN. WOW! $25K? $10K? GOLD, Worst trading Period Since 2005 (12/7/17)

Bitcoin Gold

FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

12/7/17 Closing Prices:

Bitcoin:  $16,635.01  (+$3,809.07)
Gold:  $1,247  (-$17)
Dow Jones Industrials:  24,211.48  (+70.57)
S&P 500:  2,636.98  (+7.71)

Nasdaq Composite:  6,812.84  (+36.47)

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

Trading Summary Notes for Thursday, 12/7/2017

  • BITCOIN, BITCOIN BITCOIN. Too much froth and ‘chatter’?
  • Bitcoin hits $20k….or $19K…..depending on which exchange. Short term top?
  • SOLD BITCOIN TRADING POSITION AT $17,150.
  • Love bitcoin (long term hold) but when CNBC (US television station) says bitcoin every three minutes……….I take some profits. BTW, I LOVE profits
  • GOLD, GOLD GOLD. Slowest/tightest trade since 2005
  • Lots of reasons, BUT all the hype and trade is in the cryptos
  • Gold breaking down. Test of $1,205-$1,210 may happen.
  • Gold most overlooked asset class in the world. Buy low, sell high. I LIKE GOLD
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION:  LONG GOLD

 

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

Read our PRIOR daily commentaries on Bitcoin vs Gold here