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.

12/21/17 Closing Prices:

Bitcoin: $15,782.03 (-$1035.35) Gold: $1,268 (+$3) Dow Jones Industrials: 24,782.29 (+55.64) S&P 500: 2,684.57 (+5.32) Nasdaq Composite: 6,965.36 (+4.40)

Trading Summary Notes for Thursday, 12/21/2017

• BITCOIN backing farther away from the $20K peak. Looks like that was a top.
• New futures on bitcoin have created a new breed of sellers
• Bitcoin hype and media fanaticism made market way to frothy
• Selling may continue into year end. $12,000 to $13,000 strong possibility
• $20K may prove to be the top for quite a while
• GOLD firming up nicely. Move back to $1,295-$1,300 looks good
• Bitcoin (crypto) traders may begin to move back into 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