BITCOIN & ETH Get Big Boost On BlackRock News; GOLD Steady and Unchanged (7/16/18)

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.

7/16/18 Closing Prices:

Bitcoin: $6,612.69 (+$364.18) (from Friday’s close)
Ethereum: $437.22 (+$7.23) (from Friday’s close)
Gold: $1,241 (-$0-) (from Friday’s close)
Dow Jones Industrials: 25,064.36 (+44.95)
S&P 500: 2,798.43 (-2.88)
Nasdaq Composite: 7,805.72 (-20.26)

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, 7/16/2018

  • Cryptos (BITCOIN & ETHEREUM) rally sharply on news that BlackRock is looking into investing in cryptocurrencies
  • Another major firm affirms the potential of cryptos. BlackRock is a major force
  • BTC & ETH ready for next leg up? Possibly but buying dips is better than chasing
  • Looks like the $6,000 + – area may have been the bottom on this years selloff
  • Risk/reward here to good to pass up. BTC……risking $2,000 (down to $4,500) to make $13,000 (back to $20K). Great odds
  • GOLD tried early rally but it did not hold. BUT, didn’t sell off ‘hard’ either
  • GOLD searching for a bottom. Its around here somewhere. Inflation will trump other “fears”
  • Inflation is here and heating up. Gold investors/traders not paying attention…….yet
  • Risk/reward in gold………..risking $50 (down to $1,200) to make $150 ($14,000 target)

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



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