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.

3/8/18 Closing Prices:

Bitcoin: $9,883.58 (-$765.33) Gold: $1,322 (-$2) Dow Jones Industrials: 24,895.21 (+93.85) S&P 500: 2,738.97 (+12.17) Nasdaq Composite: 7,427.95 (+31.30)

Trading Summary Notes for Thursday, 3/8/2018

• BITCOIN sinks below $10K on SEC "chatter" of regulating exchange platform
• Down 18% over past few days on scrutiny of exchanges
• Regulating exchanges would bring credibility and trust
• Regulating (in some form) would be a plus for bitcoin
• Some regulation will be BULLISH for bitcoin (cryptocurrencies)
• GOLD gives up a couple of dollars ($2) in very quiet trade
• Tariffs and inflation fears make for a very potent bullish case for gold
• Gold is getting ready to challenge $1,400……………at some point. $1,350 first
• Top 2018 “HOT” picks……… long both BITCOIN & GOLD

CURRENT TRADING POSITION: Long BITCOIN & GOLD

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index Read our PRIOR daily commentaries