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. FintekNews uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
5/12/17 Closing Prices:
Bitcoin: $1,777.87 (-$72.52)
Gold: $1,228 (+$4.00)
Dow Jones Industrials: 20,896.61 (-22.81)
S&P 500: 2,390.90 (-3.54)
Nasdaq Composite: 6,212.23 (+5.27)
Trading Summary Notes for Friday, 5/12/17:
- Bitcoin sells off sharply after huge runup
- STOPPED OUT OF BITCOIN POSITION AT $1742
- Looking for “re-entry” point for bitcoin.
- Bitcoin trading much lower ($1710) late Friday
- LONG TERM BULLISH ON BITCOIN
- Gold shows a whimper of strength
- Near term downside price target on gold still $1175-$1185
- Gold still weak
- Current position SHORT GOLD.
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.