BITCOIN & ETHEREUM Wander Around, Close Lower; GOLD Goes Nowhere, Unchanged (5/22/18)


COMING 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 & Major Market Averages on a daily basis, using the CME Bitcoin Indexes (BRR & BRTI) and the CME Ethereum Indexes (ETH_RR_USD) & (ETH_RTI_USD) for reference. 

5/22/18 Closing Prices:

Bitcoin:  $8,225.58  (-$194.22) 
Ethereum:  $682.94 (-17.51) 
Gold:  $1,292  (-$0-)
Dow Jones Industrials:  24,834.41  (-178.88)
S&P 500:  2,724.44  (-8.57)

Nasdaq Composite:  7,378.46  (-15.58)

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 Tuesday, 5/22/2018

  • The crypto twins, BITCOIN & ETHEREUM give back a little of the weekend gains in slow trade
  • Bitcoin holding in the low $8,000 area. Building support? Maybe
  • Another run to $9,500 for BTC? Wait to see if selling dries up around $8,100-$8,200
  • ETH may drift down to $650-$660
  • All cryptos in dull uninspired trading
  • GOLD wandering around in the $1,280- $1,295 area
  • Dollar weakness will spike gold back above $1,300. Inflation talk will get gold to $1,320
  • Inflation still the number one to fear. That’s bullish for gold.
  • Currently neutral on crypto’s (bitcoin, ethereum) and gold

CURRENT TRADING POSITION:   NO CURRENT POSITIONS




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