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.

2/7/18 Closing Prices:

Bitcoin: $8,209.14 (+971.47) Gold: $1,316 (-$7) Dow Jones Industrials: 24,893.35 (-19.42) S&P 500: 2,681.66 (-13.48) Nasdaq Composite: 7,051.98 (-63.90)

Trading Summary Notes for Wednesday, 2/7/2018

• BITCOIN jumps back over $8K. Volatility in full force
• Congressional hearings on cryptocurrency regulation not as negative as expected
• Is bitcoin behaving like equities? Correlation as an asset class with stocks? Not for long
• Expect more severe price swings and increased volatility. Traders use stops ALWAYS
• Bitcoin and all markets very nervous
• GOLD gets hit with selling again. Moving back down toward the $1,300 area
• Weakness is any opportunity to acquire. $1,310-$1,315 good support/entry area
• Inflation talk will return and gold will benefit
• Top 2018 “HOT” picks……….. long both BITCOIN & GOLD

CURRENT TRADING POSITION: Long BITCOIN & GOLD

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