BITCOIN Drops To $9K on Exchange Cash Raise; GOLD Tweaks Up $1 (3/9/18)

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.

3/9/18 Closing Prices:

Bitcoin:  $9,016.25 (-$867.33)
Gold:  $1,323  (+$1) 
Dow Jones Industrials:  25,335.74  (+440.53)
S&P 500: 2,786.57  (+47.60)

Nasdaq Composite: 7,560.81  (+132.86)

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

Trading Summary Notes for Friday, 3/9/2018

  • BITCOIN drops sharply on a large trader raising cash
  • Japanese crypto exchange Coincheck was hacked for $530M. Will make clients good on losses. Looks like Coincheck is raising cash by selling bitcoin to cover client losses.
  • Bitcoin sharp selling coincides with with hack. Selling done soon?
  • Several exchanges in Japan have been suspended for a month due to lax controls and reducing trading activity
  • Regulating (in some form) would be a plus for bitcoin
  • Some regulation will be BULLISH for bitcoin (cryptocurrencies)
  • GOLD adds $1 in super quiet trade.
  • With equities and bitcoin interest in gold is missing
  • Very bullish on gold
  • Gold is getting ready to challenge $1,400……………at some point. $1,350 first
  • Top 2018 “HOT” picks……… long both BITCOIN & GOLD


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

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