CRYPTOs (Bitcoin & Ethereum) and Gold in Summer Doldrums, Little Movement (6/7/18)

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.

6/7/18 Closing Prices:

Bitcoin:  $7,688.24   (+57.47) 
Ethereum:  $605.65  (-2.92) 
Gold:  $1,298 (+$1) 
Dow Jones Industrials:  25,241.41 (+95.02)
S&P 500:  2,770.37 (-1.98)

Nasdaq Composite:  7,635.07 (-54.17)

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, 6/7/2018

  • Talk of China trade compromises and optimistic U.S./N.K. summit possibilities have little to no effect on BITCOIN, ETHEREUM & GOLD.
  • With G7 talks this weekend coming up, traders staying away.
  • Summer trading doldrums setting in. No volatility and only choppy moves.
  • STRONG case can be made for BITCOIN, ETHEREUM and GOLD building longer term base at these levels.
  • Patience. Although beginning to look “interesting”, may have to look more long term rather than short term trade.
  • Turning positive on gold.
  • 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