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.
2/8/18 Closing Prices:
Bitcoin: $8,340.57 (+$131.13) Gold: $1,319 (+$3) Dow Jones Industrials: 23,860.46 (-1032.89) S&P 500: 2,581.00 (-100.66) Nasdaq Composite: 6,777.16 (-274.83)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Thursday, 2/8/2018
- BITCOIN moves higher. Correlation with equities/markets lasted only four days
- Bitcoin solid alternative to stock markets? Long bitcoin/short stocks? Hmmmmm!!
- Regulatory hearings on cryptocurrency were not as negative as expected. That's a positive
- Bitcoin and all markets very nervous. Traders use stops ALWAYS
- GOLD inches back up a few dollars
- Gold held our support/entry level of $1,310-$1,315. Holding that area should reinforce a renewed upward trend
- Inflation talk will return and gold will benefit
- Top 2018 “HOT” picks……….. long both BITCOIN & GOLD
CURRENT TRADING POSITION: Long BITCOIN & GOLD
Read our PRIOR daily commentaries