BITCOIN Heads for $8,000; GOLD Goes Nowhere (11/16/17)

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.

11/16/17 Closing Prices:

Bitcoin:  $7,469.72  (+$233.97)
Gold:  $1,279  (-$0-)
Dow Jones Industrials:  23,458.36  (+187.08)
S&P 500:  2,585.64  (+21.02)

Nasdaq Composite:  6,793.29  (+87.08)

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

Trading Summary Notes for Thursday, 11/16/2017

  • BITCOIN tacks on more gains. Negative press clippings ignored
  • Expect a challenge to the old highs and a break above $8,000
  • The bitcoin momentum is huge. Credibility gains every day…..Square is the latest to embrace “the coin”
  • GOLD finishes unchanged. Basically neglected
  • Stocks and cryptocurrencies stealing the activity in gold……for now
  • Gold looking to break out above $1,300. Next stop $1,350
  • LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION: LONG BITCOIN & LONG GOLD

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

Read our PRIOR daily commentaries on Bitcoin vs Gold here