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.

2/6/18 Closing Prices:

Bitcoin: $7,237.67 (-$62.85) Gold: $1,323 (-$15) Dow Jones Industrials: 24,912.77 (+567.02) S&P 500: 2,695.14 (+46.20) Nasdaq Composite: 7,115.88 (+148.36)

Trading Summary Notes for Tuesday, 2/6/2018

• BITCOIN drops below $7K several times, bounces and closes higher
• BOUGHT BITCOIN IN TRADING ACCOUNT AT $7,120
• Bitcoin behaving like an asset class? Correlation with equities? For right now anyway
• Bottom in for bitcoin? Perhaps. Holding above $7K could signal a real turn higher
• GOLD gets hit with selling as traders/investors sell gold and return to equities/cryptos
• GOLD………..weakness is any opportunity to acquire
• Inflation talk will return and gold will benefit
• $1,310-$1,315 good support/entry area
• Top 2018 “HOT” picks……….. long both BITCOIN & GOLD

CURRENT TRADING POSITION: Long BITCOIN & GOLD

Read our PRIOR daily commentaries