NO FORK, BITCOIN Spikes; GOLD Lost In Nowhere (11/8/17)

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.

11/8/17 Closing Prices:

Bitcoin:  $7,506.10  (+$470.78)
Gold:  $1,281  (+$5.00)
Dow Jones Industrials:  23,563.36  (+6.13)
S&P 500:  2,594.38  (+3.74)

Nasdaq Composite:  6,789.12  (+21.33)

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

Trading Summary Notes for Wednesday, 11/8/2017

  • BITCOIN spikes as the anticipated fork (split) get called off
  • Bitcoin hits $7,700 before dropping back. Short squeeze?
  • After starting to consolidate gains, fork news creates a huge spike
  • Now what? Stabilize? Personally, look for a bit more softness and consolidation
  • GOLD lost in the “woods”.
  • Yesterday’s slight sell off reverses today. Merry-go-round action
  • 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 

 

Read our PRIOR daily commentaries on Bitcoin vs Gold here
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