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.
5/10/17 Closing Prices:
Bitcoin: $1,780.92 (+$52.88)
Gold: $1,219 ($-2.00)
Dow Jones Industrials: 20,943.11 (-32.67)
S&P 500: 2,399.63 (+2.71)
Nasdaq Composite: 6,129.14 (+8.56)
Trading Summary Notes for Tuesday, 5/10/17:
- Bitcoin new highs on solid demand
- BITCOIN IN THE MIDDLE OF MY NEAR TERM PRICE TARGET OF $1750-$1800
- For protection, RAISING sell stop to $1680-$1690
- Long term bullish on Bitcoin
- Gold very weak. No reason to own it currently
- Staying short gold. Near term downside price target $1175-$1185
- 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.