Bloody Crypto Sunday; New Hack Sinks BITCOIN & ETHEREUM; GOLD Solid (6/11/18)

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.

6/11/18 Closing Prices:

Bitcoin:  $6,727.15  (-$852.86) (from Friday’s close)
Ethereum:  $524.08 (-$70.91) (from Friday’s close)
Gold:  $1,301 (+$2) (from Friday’s close)
Dow Jones Industrials:  25,322.31  (+5.78)
S&P 500:  2,782.00 (+2.97)
Nasdaq Composite:  7,659.92 (+14.41)

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, 6/11/2018

  • Quiet weekend until Sunday afternoon when another Asian crypto exchange was hacked
  • Immediate sell off in all the cryptos  (did North Korea do it to pay for their summit trip?)
  • So much for the lack of volatility
  • Buying opportunity? Over reaction? Both?
  • GOLD very solid, inched above $1,300
  • STRONG case can be made for BITCOIN, ETHEREUM and GOLD building longer term base at these levels
  • Long term bullish on BTC, ETH and gold.

CURRENT TRADING POSITION:  LONG BITCOIN




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