WHOA! BITCOIN Plunges, Recovers Some. Wheeee! GOLD Back In Favor, $1,300 Next (12/22/17)

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.

12/22/17 Closing Prices:

Bitcoin:  $12,902.23 (-$2879.80) 
Gold:  $1,274  (+$6) 
Dow Jones Industrials:  24,754.06  (-28.23)
S&P 500:  2,683.34  (-1.23)

Nasdaq Composite:  6,959.96  (-5.40)

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

Trading Summary Notes for Friday, 12/22/2017

  • Bitcoin gets massive selling. Slips below $12,000 before recovering
  • Called this selloff yesterday and targeted $12,000-$13,000
  • BOUGHT BITCOIN AT $12,430. NEW TRADE
  • Futures have created new sellers BUT shorts have to cover too. Buyers on big breaks? Sure.
  • $20K may prove to be the top for quite a while
  • GOLD sneaking back up. Bitcoin (crypto) traders may begin to move back into gold
  • Move back to $1,295-$1,300 looks good
  • REPEATING; Gold is under owned and under loved. Don’t be short gold
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION:  Long BITCOIN & GOLD

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

Read our PRIOR daily commentaries on Bitcoin vs Gold here