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.
8/20/18 Closing Prices:
Bitcoin: $6,443.48 (-$25.00) (from Friday’s close)
Ethereum: $285.61 (-$9.51) (from Friday’s close)
Gold: $1,189 (+$6) (from Friday’s close)
Dow Jones Industrials: 25,758.69 (+89.37)
S&P 500: 2,857.05 (+6.92)
Nasdaq Composite: 7,821.01 (+4.68)
Trading Summary Notes for Monday, 8/20/2018
- BTC and ETH off slightly in dull trade waiting for SEC decision on ETFs due Thursday (23rd)
- SEC will rule on two funds from ProShares
- A ‘no’ ruling will send BTC and ETH plunging. Note: SEC “doesn’t like cryptos…..just saying”
- CRYPTO PANIC MAY NOT BE OVER YET! BITCOIN could break down under $6,000 in a panic. Target $4,500-$5,000
- GOLD jumps up on Venezuela fiscal collapse
- GOLD holding $1,175-$1,180 so far
- Dollar is keeping a lid on GOLD. Overlooked and under appreciated?; Inflation, Euro problems, Brexit and Turkey.
- Gold has very few “friends”. Great time to buy is when nobody else wants to buy.
- Long term bullish on BITCOIN and GOLD. Neutral on ETH.
CURRENT TRADING POSITION: LONG GOLD
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews