The Taylor Report-Bitcoin vs Gold vs Ethereum (8/20/18)

BITCOIN & ETHEREUM Off Slightly Awaiting ETF Decision; GOLD Jumps on Venezuela Meltdown


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)

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, 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