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)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading 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