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.
2/5/18 Closing Prices:
Bitcoin: $7,300.52 (-$1,443.58) *from Friday's close Gold: $1,338 (+$8) *from Friday's close Dow Jones Industrials: 24,345.75 (-1175.21) S&P 500: 2,648.94 (-113.19) Nasdaq Composite: 6,967.53 (-273.42)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Monday, 2/5/2018
- BITCOIN selling accelerates after the weekend. Buyers sit back
- Bitcoin behaving like an asset class? Correlation with equities? For right now anyway
- Looks like speculators/investors have been buying stocks AND bitcoin. Caught long and wrong
- Let all the hype settle down. Traders get ready to capitalize on the severe weakness in bitcoin
- News coming out daily will ALL be negative. All cryptos that are “speculative” (at best) will be severely hurt. Bitcoin and the best of them just being caught in the overall selling
- Getting close to a buying/entry point? Maybe soon
- GOLD perks up on 'flight to safety". Momentum strong
- Market declines will hush the chatter of higher rates for a while
- GOLD………..weakness is any opportunity to acquire
- BITCOIN, GOLD & EQUITIES CAN GO DOWN WHEN OVERBOUGHT. ITS NORMAL
- Top 2018 “HOT” picks……….. long both BITCOIN & GOLD
CURRENT TRADING POSITION: Long GOLD
