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.
5/9/17 Closing Prices:
Bitcoin: $1,728.04 (+$133.39) Gold: $1,221 ($-6.00) Dow Jones Industrials: 20,975.78 (-36.50) S&P 500: 2,396.92 (-2.46) Nasdaq Composite: 6,120.59 (+17.93)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
Trading Summary Notes for Tuesday, 5/9/17:
- Bitcoin hitting new all time highs
- Bitcoin near term price target $1750-$1800. (May need to raise that again)
- Bitcoin traders may want to lighten up on long positions.
- Bitcoin traders raise sell stops from $1485-$1495 TO $1625-$1640
- Gold stays extremely weak.
- Stay short gold. Near term downside price target $1175-$1185
- No reason to own gold.
- LONG BITCOIN/SHORT GOLD
Past Market
Read our PRIOR daily commentaries on Bitcoin vs Gold here
See other content on bitcoin & digital currencies here
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold
throughout the future. We continue that call.