Cryptos, Bitcoin, Gold Drifting Around Going Nowhere. Dull Trading (6/1/18)


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.

6/1/18 Closing Prices:

Bitcoin:  $7,420.56   (-$119.51)
Ethereum:  $574.10 (+2.23) 
Gold:  $1,296  (-$6) 
Dow Jones Industrials:  24,635.21  (+219.37)
S&P 500:  2,734.62  (+29.35)

Nasdaq Composite: 7,554.33  (+112.21)

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 Friday, 6/1/2018

  • BITCOIN drifts lower, ETHEREUM adds a couple bucks, GOLD drops $6.00
  • Cryptos (BITCOIN, ETHEREUM) stalled with lack of interest. “Dead money” for a while?”
  • U.S./N.K. summit back on, tariffs back on too. Nothing big to move markets
  • Uncertainty, geopolitical events, dollar, interest rates, etc not moving markets currently
  • GOLD moving up and down slightly around $1,300. Down today. No conviction right now
  • Trading ranges getting smaller as trading interest dries up. Choppy (not volatile) markets may be here for a while
  • Currently neutral on gold, long term bullish on BTC & ETH

CURRENT TRADING POSITION:  LONG BITCOIN




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