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.
5/7/18 Closing Prices:
Bitcoin: $9,254.99 (-$400.11) (after Friday's close) Gold: $1,314 (-$0-) (after Friday's close) Dow Jones Industrials: 24,357.32 (+94.81) S&P 500: 2,672.63 (+9.21) Nasdaq Composite: 7,265.21 (+55.60)
CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time IndexTrading Summary Notes for Monday, 5/7/2018
- $10,000 proved a big wall for BITCOIN over the weekend. Failed on THAT attempt, fell back Sunday and Monday
- BITCOIN came under pressure as Warren Buffet, Charlie Munger and Bill Gates voiced their opinions on TV this morning
- The "older" trio are in the minority and still keeping next price target at $12,000-$12,500
- Goldman Sachs opening a bitcoin trading desk is a huge plus
- GOLD attempting to build a base above $1,300
- Inflation fears will heat up as wage gains begin become more prevalent
- Uncertainty in gold trade while waiting for President Trump to announce decision on Iran nuclear deal
- A close above $1,320 would bring in buyers for a move back to $1,350-$1,355
CURRENT TRADING POSITION: Long BITCOIN & GOLD
