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.

12/22/17 Closing Prices:

Bitcoin: $12,902.23 (-$2879.80) Gold: $1,274 (+$6) Dow Jones Industrials: 24,754.06 (-28.23) S&P 500: 2,683.34 (-1.23) Nasdaq Composite: 6,959.96 (-5.40)

Trading Summary Notes for Friday, 12/22/2017

• Bitcoin gets massive selling. Slips below $12,000 before recovering
• Called this selloff yesterday and targeted $12,000-$13,000
• BOUGHT BITCOIN AT $12,430. NEW TRADE
• Futures have created new sellers BUT shorts have to cover too. Buyers on big breaks? Sure.
• $20K may prove to be the top for quite a while
• GOLD sneaking back up. Bitcoin (crypto) traders may begin to move back into gold
• Move back to $1,295-$1,300 looks good
• REPEATING; Gold is under owned and under loved. Don’t be short gold
• LONG TERM BULLISH ON BITCOIN AND GOLD

CURRENT TRADING POSITION: Long BITCOIN & GOLD

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Read our PRIOR daily commentaries on Bitcoin vs Gold here