Gold Meets Resistance. Bitcoin Meets Problems. Stay Away.

Bitcoin vs Gold (3/23/17)

Gold Bitcoin
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),

Read our prior daily commentaries on Bitcoin vs Gold here

Trading Summary Notes for Tuesday, 3/23/17

  • Bitcoin bouncing off and around the $1000 area
  • Sit out bitcoin. To many questions still need answers
  • Bitcoin drops below $900 there will be significant downside risk
  • Gold meeting resistance at $1250-$1255
  • Gold breaking and closing above $1255 would be very bullish. Target $1300-$1325
  • See bitcoin articles at FintekNews website. Smart money sits out.

Bitcoin vs. Gold Daily Pricing Chart

See other content on bitcoin & digital currencies here

* 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)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

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:

BITCOIN-GOLD UPDATE (Published 10/26/16)
BITCOIN-GOLD: $2K $3K? Published 8/17/16)