BITCOIN, ETH Rocket Up And Hold Yesterday’s Gains; GOLD, Early Dip Before Recovering (7/18/18)

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.

7/18/18 Closing Prices:

Bitcoin: $7,457.80 (+$741.11) 
Ethereum: $494.96 (+$26.28) 
Gold: $1,227 (-$1) 
Dow Jones Industrials: 25,199.29 (+79.40)
S&P 500: 2,815.62 (+6.07)
Nasdaq Composite: 7,854.44 (-0.67)

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, 7/18/2018

  • Yesterday’s late afternoon crypto rally held today. BITCOIN, ETHEREUM solid all day
  • News turning a bit more positive……..BlackRock exploring cryptos, Goldman Sachs new CEO very crypto friendly, global regulations being deemed positive, etc etc
  • BTC, ETH fundamentals sound
  • BITCOIN after touching $7,500 and ETH hitting $500 should see a bit of a pullback, but upside momentum building
  • GOLD has early morning softness. Afternoon recovery to basically unchanged
  • Gold looks to test $1,200. Strong dollar is a big headwind
  • GOLD searching for a bottom. It’s around here somewhere. Inflation will trump other “fears”
  • Inflation is here and heating up. Gold investors/traders not paying attention…….yet
  • Risk/reward in gold………..risking $25 (down to $1,200) to make $175 ($14,000 target)

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



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