BITCOIN, ETHEREUM Early Weakness, Afternoon Strength; GOLD Goes Nowhere (6/18/18)

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.

6/18/18 Closing Prices:

Bitcoin: $6,441.85 (-$70.66) (from Friday’s close)
Ethereum: $495.03 (+$2.03) (from Friday’s close)
Gold: $1,278 (-$2) (from Friday’s close)
Dow Jones Industrials: 24,987.47 (-103.01)
S&P 500: 2,773.87 (-5.79)
Nasdaq Composite: 7,747.02 (+0.65)

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 Monday, 6/18/2018

  • BOUGHT BITCOIN @ $6,492…….NEW TRADING POSITION
  • Indecisive weekend for BITCOIN and ETHEREUM. Soft selling today in the morning BUT strong rally after London close
  • SEC ruling that BTC and ETH are NOT securities finally sinking in?
  • Rumors of crypto trading manipulation getting old. Old news is no news
  • BTC back to $8,500? ETH back to $600? Possibly
  • GOLD dips a little more over the weekend. Rally’s back to where it was Friday
  • Stronger dollar hurting GOLD for the moment
  • Recent inflation numbers are beginning to “run hot”. Labor shortages ALWAYS lead to upside wage pressures…….and inflation
  • Still feel inflation is being under estimated
  • Neutral on gold currently
  • Long term bullish on BTC, ETH and gold

CURRENT TRADING POSITION:  LONG BITCOIN



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