FintekNews is comparing the price of bitcoin and gold on a daily basis, utilizing the Chicago Mercantile Exchange’s (CME)two new bitcoin indexes (BRR & BRTI),
Trading Summary Notes for Tuesday, 3/22/17
- Gold bumping up against resistance at $1250
- Gold breakout above $1250-$1255 would be bullish and move toward $1325-$1350
- Bitcoin has credibility problems (see FintekNews comments and articles)
- Sit out any positions in bitcoin for time being. Problems may be insurmountable.
Bitcoin vs. Gold Daily Pricing Chart
* Prices are from CME’s BRR index as of 4:15 EST; gold as of 4:15 EST near term future
** Inception began Aug. 17, 2016 (see FintekNews article)
We wrote an article (8/17/16) going on the record saying bitcoin will outperform gold throughout the future. The chart above compares the pricing on that date to the two most recent trading days, as reference. We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.
Please see following FintekNews articles for reference on pricing in graph: