BITCOIN’s Wild Weekend; GOLD Steadies (11/13/17)

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.

11/13/17 Closing Prices:

Bitcoin:  $6,607.76  (-$203.49) from Friday’s close
Gold:  $1,278  (+$2.00)
Dow Jones Industrials:  23,439.70  (+17.49)
S&P 500:  2,584.84  (+2.54)

Nasdaq Composite:  6,757.60  (+6.66)

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

Trading Summary Notes for Monday, 11/13/2017

  • BITCOIN crashes over the weekend. Jumps back up today
  • Two days of heavy selling takes bitcoin down over $1,000. Hits $5,500
  • Bitcoin jumps back up over $800 to almost Friday’s close
  • BITCOIN CASH doubles over the weekend. Loses over 50% today
  • Expect more heavy volatility. There’s a “miner civil war” going on
  • Traders are trading the spread; Sell bitcoin/buy bitcoin cash…….and vice versa
  • GOLD steadies. Gold suffering from lack of interest……..for now
  • Still thinking gold want so go UP. Needs a reason and momentum investors
  • 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