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.
11/8/17 Closing Prices:
Bitcoin: $7,506.10 (+$470.78)
Gold: $1,281 (+$5.00)
Dow Jones Industrials: 23,563.36 (+6.13)
S&P 500: 2,594.38 (+3.74)
Nasdaq Composite: 6,789.12 (+21.33)
Trading Summary Notes for Wednesday, 11/8/2017
- BITCOIN spikes as the anticipated fork (split) get called off
- Bitcoin hits $7,700 before dropping back. Short squeeze?
- After starting to consolidate gains, fork news creates a huge spike
- Now what? Stabilize? Personally, look for a bit more softness and consolidation
- GOLD lost in the “woods”.
- Yesterday’s slight sell off reverses today. Merry-go-round action
- Still thinking gold want so go UP. Needs a reason and momentum investors
- LONG TERM BULLISH ON BITCOIN AND GOLD
CURRENT TRADING POSITION: LONG GOLD