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. FintekNews uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
5/5/17 Closing Prices:
Bitcoin: $1,594.05 (+$9.42)
Gold: $1,229 ($+1.00)
Dow Jones Industrials: 21,006.94 (+55.47)
S&P 500: 2,399.29 (+9.77)
Nasdaq Composite: 6,100.76 (+25.42)
Trading Summary Notes for Thursday, 5/5/17:
- Bitcoin challenges $1600. New highs and momentum strong
- Bitcoin near term price target $1750-$1800
- Traders should use sell stop at $1485-$1495.
- Bitcoin long term uptrend intact.
- Gold in a downtrend. Very weak
- Gold near term downside price target $1175-$1185
- No reason to own gold.
- LONG BITCOIN/SHORT GOLD
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. We continue that call.