Bitcoin IS the New Gold
In celebration of the Chicago Mercantile Exchange’s (CME) launch of two new bitcoin indexes (BRR & BRTI), FintekNews is comparing the price of bitcoin and gold on a daily basis.
Trading Notes for Tuesday, 3/14/17:
- Bitcoin strong. Getting closer to $1300-$1350 resistance.
- Gold breaking down. Interest rate increases to weigh heavily on gold.
- LONG Bitcoin/Short Gold
- Still working beautifully, no changes.
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: