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.
3/12/18 Closing Prices:
Bitcoin: $8,920.57 (-$95.68) (from Friday’s close)
Gold: $1,324 (+$1) (from Friday’s close)
Dow Jones Industrials: 25,178.61 (-157.13)
S&P 500: 2,783.02 (-3.55)
Nasdaq Composite: 7,588.33 (+27.51)
Trading Summary Notes for Monday, 3/12/2018
- BITCOIN gets solid weekend buying, pushes well above $9K
- Selling returns pushing bitcoin down to just under $9K, basically unchanged from Friday
- Seems bitcoin has a large seller that sells into rallies. Japan whale??
- Chatter of “new” opinions of a bitcoin/stock market correlation are very far fetched
- Bitcoin rallies may be muted until a large seller is complete. When?? No guess.
- GOLD adds $1 in super quiet trade
- Gold seems to be stuck in a very tight trading range…..$1,310-$1,340
- Still 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
CURRENT TRADING POSITION: Long BITCOIN & GOLD