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FintekNews compares the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.
5/17/17 Closing Prices:
Bitcoin: $1,831.67 (+$91.12) Gold: $1,260 (+$23.00) Dow Jones Industrials: 20,606.93 (-372.82) S&P 500: 2,357.03 (-43.64) Nasdaq Composite: 6,011.24 (-158.63)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
Trading Summary Notes for Friday, 5/17/17:
- Bitcoin jumps as a flight to safety as markets tank
- Not ready to "chase" bitcoin. Bitcoin still has downside "work" to do
- Raise bitcoin buy area TO $1650-$1675 FROM $1625- $1650
- Gold has big rise on same flight to safety
- Gold above $1250 could spark move to $1275-$1290
- NOT a fan of gold here. Buyers will be disappointed.
- Still to many traders/investors jump into gold as safe haven. Too many people in that boat.
- Bitcoin IS the new gold.
NO CURRENT POSITIONS
Past Market
Read our PRIOR daily commentaries on Bitcoin vs Gold here
See other content on bitcoin & digital currencies here