BITCOIN, ETHEREUM & GOLD All ‘Dead Money?’ (5/30/18)


NEW THIS WEEK – A WHOLE 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.

5/30/18 Closing Prices:

Bitcoin:  $7,474.95  (+$51.91)
Ethereum:  $563.98  (+4.42) 
Gold:  $1,302  (+$2) 
Dow Jones Industrials:  24,667.78  (+306.33)
S&P 500:  2,724.01  (+34.15)

Nasdaq Composite:  7,462.45  (+65.86)

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, 5/30/2018

  • Uncertainty, geopolitical events, dollar, interest rates, etc not moving markets currently
  • Cryptos (BITCOIN, ETHEREUM) stalled with lack of interest. “Dead money” for a while?”
  • GOLD moving up and down slightly around $1,300. No conviction right now
  • Trading ranges getting smaller as trading interest dries up. Summer already?
  • Choppy (not volatile) markets may be here for a while
  • Currently neutral on gold, long term bullish on BTC & ETH

CURRENT TRADING POSITION:  LONG BITCOIN




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