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.
12/15/17 Closing Prices:
Bitcoin: $17,582.17 (+1205.37)
Gold: $1,256 (+$3)
Dow Jones Industrials: 24,651.74 (+143.08)
S&P 500: 2,675.81 (+23.80)
Nasdaq Composite: 6,936.58 (+80.06)
Trading Summary Notes for Friday, 12/15/2017
- BITCOIN rallies into the weekend. CME Group futures debut Monday
- The CME bitcoin futures contract is a better product and better price discovery
- Will the “new” futures have a trading effect? Not for a while
- Still very frothy and may be short term over owned. But will anybody sell?
- GOLD inches higher and holds $1,250 area.
- New inflation ‘chatter” will benefit gold
- Gold is under owned and under loved. Don’t be short gold
- LONG TERM BULLISH ON BITCOIN AND GOLD
CURRENT TRADING POSITION: Long GOLD