BITCOIN Holds Firm, Looking At $10,000; ETH Sells Off; GOLD Recovers Early Selloff, Still Down (7/19/18)

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.

7/19/18 Closing Prices:

Bitcoin: $7,452.02 (-$5.78) 
Ethereum: $474.94 (-$20.02) 
Gold: $1,223 (-$4) 
Dow Jones Industrials: 25,064.50 (-134.79)
S&P 500: 2,804.49 (-11.13)
Nasdaq Composite: 7,825.30 (-29.15)

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 Thursday, 7/19/2018

  • BITCOIN holds firm, Ethereum under some pressure
  • Some divergence in the cryptos showing up, BITCOIN the leader of the pack
  • Next stop for BITCOIN $9,500-$10,000? Momentum looks good
  • ETH has to break (and hold above) $500. Then $575 could be in the cards
  • GOLD recovers some early heavy selling. Still closes down
  • Strong dollar, chatter about higher interest rates are a headwind for GOLD
  • Test of $1,200-$1,205 looks inevitable. Breaking $1,200 would lead to $!,175
  • Inflation is here and heating up. GOLD investors/traders not paying attention…….yet
  • Risk/reward in GOLD………..risking $20 (down to $1,200) to make $200 ($14,000 target)

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



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