BITCOIN JUMPING ($5,000 Coming?); GOLD SLUMPING (For Now) (8/4/17)

Bitcoin Gold

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, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

8/4/17 Closing Prices:

Bitcoin:  $2,852.60  (+$117.52)
Gold:  $1,258  (-$10.00)
Dow Jones Industrials:  22,092.81  (+66.71)
S&P 500:  2,476.83  (+467) 

Nasdaq Composite:   6,351.56 

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

Trading Summary Notes for Friday, 8/4/2017

  • Bitcoin pushing toward $3,000 and all time highs
  • “Little bitcoin” (bitcoin cash) losing its new shiny “flash”. All the anticipation and nervousness over “fork” (split) seems to have passed
  • Buy the dips on bitcoin. Use sell stop $225 under buy price
  • Bitcoin looks poised to break out on the upside. $5,000? I say YES
  • Gold weakens on strong jobs numbers
  • Gold trading on dollar strength/weakness. For now
  • Buy gold on dips against sell stop at $1,250
  • Gold looking to test $1,300. Solid momentum building

Current TRADING Positions:   LONG BITCOIN

Past Market:

Read our PRIOR daily commentaries on Bitcoin vs Gold here

See other content on bitcoin & digital currencies here