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.

12/19/17 Closing Prices:

Bitcoin: $18,037.85 (-$804.68) Gold: $1,262 (-$0-) Dow Jones Industrials: 24,754.75 (-37.45) S&P 500: 2,681.47 (-8.69) Nasdaq Composite: 6,963.85 (-30.91)

Trading Summary Notes for Tuesday, 12/19/2017

• BITCOIN meets new sellers.........futures sellers & hedgers
• CME bitcoin futures traders put pressure on bitcoin. CME much better product than Cboe
• Anticipation of the bitcoin futures launch (both CME & Cboe) is over. Sell the news?
• Bitcoin is getting more efficient and maybe a touch less volatile
• Bitcoin "enthusiasm" makes the market way to "frothy". Short term top? (I've said that before and been wrong. I'm due to be right sometime)
• GOLD stays unchanged, but firm
• Short term target $1,295-$1,300 as bitcoin softness encourages switch to gold
• Gold is under owned and under loved. Don’t be short gold
• LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION: Long GOLD

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index Read our PRIOR daily commentaries on Bitcoin vs Gold here