In celebration of the Chicago Mercantile Exchange’s (CME) launch of two new bitcoin indexes (BRR & BRTI), FintekNews is comparing the price of bitcoin and gold on a daily basis. Bitcoin IS the new gold.
Trading Notes (1/25): Higher equity markets have siphoned off some of the risk averse positions in bitcoin and gold. It is a BUYING OPPORTUNITY IN BITCOIN. Lots of gold bulls out there. Not here. Dollar's down, gold is down? Gold is the short hedge for bitcoin. Long bitcoin, short gold. Bitcoin WILL go to parity and carry a premium to gold. Sooner than you think.
Bitcoin vs. Gold Daily Pricing Chart
| Date | Bitcoin Close | Daily Points +/- | Since Inception +/- | Gold Close | Daily Points +/- | Since Inception +/- |
| 8/17 | $575 | N/A | N/A | $1350 | N/A | N/A |
| 1/24 | $903.50 | -$20.05 | +57.1% | $12107 | -$6.00 | -10.4% |
| 1/25 | $889.82 | -$13.68 | +55.2% | $1197 | -$10.00 | -11.3% |
We wrote an article (8/17) going on the record saying bitcoin will outperform gold throughout the future. Thechart below compares the pricing on that date to the two most recent trading days, as reference. We at FintekNews have written (and are on record) of saying that bitcoin will outperform gold in the future.**
*CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
** Please see FintekNews.com articles for reference on pricing below"
BITCOIN-GOLD UPDATE (Published 10/26/16)
BITCOIN-GOLD: $2K $3K? Published 8/17/16)
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By Bill Taylor-CEO, FintekNews & CIO, TLC Capital Group