Friends, in celebration of the Chicago Mercantile Exchange’s (CME) launch of two new bitcoin indexes (BRR & BRTI), is going to compare the price of bitcoin and gold on a daily basis. We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.** Bitcoin IS the new gold.
Trading Notes (12/7): Almost even today on the point gains. Long time trader friend in Chicago called me today and asked if gold might be a buy since its been beat up. I said WHY? He also didn't know much about (like nothing) bitcoin. Enough said; buy bitcoin, its the new gold (just not for jewelry).
We wrote an article (8/17) going on the record saying bitcoin will outperform gold throughout the future. Should you have done that (long bitcoin, short gold) you would be up $314.87 or 41.8% (see chart above). No reason to change, bitcoin has replaced gold as a safe haven.
Bitcoin vs. Gold Daily Pricing Chart
| Date | Bitcoin Close | Daily Points +/- | Since Inception +/- | Gold Close | Daily Points +/- | Since Inception +/- |
| 8/17 | $575 | N/A | N/A | $1350 | N/A | N/A |
| 12/6 | $758.63 | +6.40 | +32.0% | $1170 | -1.0 | -13.3% |
| 12/7 | $764.50 | +5.87 | +32.9% | $1176 | +6.0 | -13.0% |
*CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
** Please see FintekNews.com articles for reference on pricing below"
BITCOIN-GOLD UPDATE (Published 10/26/16)
BITCOIN-GOLD: $2K $3K? Published 8/17/16)