HOLY BITCOIN/GOLD, BatTrader!! Big Jumps.

Bitcoin Gold

Welcome to our new streamlined format for Bitcoin vs Gold (and beyond) and look for additional changes over the coming weeks, including a new logo and more. 

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.

5/17/17 Closing Prices:

Bitcoin: $1,831.67 (+$91.12)
Gold:
 $1,260 (+$23.00)
Dow Jones Industrials: 20,606.93 (-372.82)
S&P 500: 2,357.03 (-43.64)
Nasdaq Composite: 6,011.24 (-158.63)

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

Trading Summary Notes for Friday, 5/17/17:

  • Bitcoin jumps as a flight to safety as markets tank
  • Not ready to “chase” bitcoin. Bitcoin still has downside “work” to do
  • Raise bitcoin buy area TO $1650-$1675 FROM $1625- $1650
  • Gold has big rise on same flight to safety
  • Gold above $1250 could spark move to $1275-$1290
  • NOT a fan of gold here. Buyers will be disappointed.
  • Still to many traders/investors jump into gold as safe haven. Too many people in that boat.
  • Bitcoin IS the new gold.

NO CURRENT POSITIONS

Past Market

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here