BITCOIN $4,000?; ETH $250?; GOLD $1,200?; Its Starting to Look Ugly (6/27/18)

bitcoin gold


WE HOPE YOU ENJOY OUR NEW FORMAT FOR BITCOIN VS GOLD, INCLUDING A LINK TO THE NEW CME ETHEREUM INDEXES! 

By Bill Taylor, Contributor

We compare the price of Bitcoin, Ethereum, & Gold, using the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference.

6/27/18 Closing Prices:

Bitcoin: $6,063.64 (-$110.08) 
Ethereum: $427.01 (-$17.32) 
Gold: $1,252 (-$6) 
Dow Jones Industrials: 24,117.59 (-165.52)
S&P 500: 2,699.63 (-23.43)
Nasdaq Composite: 7,445.08 (-116.54)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index
CME ETH_RR_USD Ethereum Reference Rate & CME ETH_RTI_USD Ethereum Real Time Index

Trading Summary Notes for Wednesday, 6/27/2018

  • BITCOIN, ETHEREUM (Cryptos) & GOLD can’t muster any kind of rally
  • Be careful jumping on a trap door. They open really fast
  • Cryptos, BTC, ETC may be on the verge of a “selling climax”. Capitulation?
  • BTC $4,000, ETH $250, GOLD $1,200?
  • Selling capitulation creates marvelous buying opportunities
  • Crypto fundamentals are solid and intact. “Fake News” will say otherwise, ignore it
  • GOLD trading down on interest rate hike fears
  • Trade disputes, currency wars, inflation fears being ignored….for now
  • Next stop for gold looks like $1,220-$1,225
  • Long term bullish on BTC, ETH and GOLD. Fundamental story intact

CURRENT TRADING POSITION:  NO CURRENT TRADING POSITIONS




Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews