The Taylor Report-Bitcoin vs Gold vs Ethereum (7/20/18)

BITCOIN Creeps UP, Has Great Week; ETH Lags, Off Slightly; GOLD Rallies On Weak Dollar

bitcoin gold


WE HOPE YOU ENJOY OUR NEW FORMAT FOR THE TAYOR REPORT – BITCOIN VS GOLD VS ETHEREUM, 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.

7/20/18 Closing Prices:

Bitcoin: $7,470.69 (+$18.67) 
Ethereum: $463.20 (-$11.74) 
Gold: $1,230 (+$7) 
Dow Jones Industrials: 25,058.12 (-6.38)
S&P 500: 2,801.83 (-2.66)
Nasdaq Composite: 7,820.20 (-5.10)

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 Friday, 7/20/2018

  • BITCOIN adds to weeks rally. Has big week (up almost 20%)
  • ETHEREUM off a little. ETH has an up week (up 5%) but lags BTC
  • GOLD has a good Friday with dollar selloff. Has a down week
  • Next stop for BITCOIN $9,500-$10,000? Momentum looks good
  • Risk/reward in GOLD………..risking $20 (down to $1,200) to make $200 ($14,000 target)
  • GOLD trading inversely to dollar currently. That will change
  • BITCOIN is back to being the “crypto leader”. $6,000 looks like the year’s bottom

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



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