COMING THIS WEEK – A WHOLE 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 & Major Market Averages on a daily basis, and use the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing, and the CME ethereum indexes (ETH_RR_USD) & (ETH_RTI_USD) for Ethereum pricing.
5/21/18 Closing Prices:
Bitcoin: $8,419.80 (+$346.91) (from Friday’s close)
Ethereum: $700.45 (+27.98) (from Friday’s close)
Gold: $1,292 (-$0-) (from Friday’s close)
Dow Jones Industrials: 25,013.29 (+298.20)
S&P 500: 2,733.01 (+20.04)
Nasdaq Composite: 7,394.04 (+39.70)
Trading Summary Notes for Monday, 5/21/2018
- Both BITCOIN and Ethereum have a strong weekend. Nice rallies for both
- BITCOIN holding $8,000 level and looks like good support
- Another run to $9,500 for BTC? Wait to see if selling dries up around $8,100-$8,200
- Crypto’s still in slow trading markets
- GOLD trades down to $1,280-$1,285 area, recovers to back above $1,290
- Worries about interest rates and strong dollar easing?
- Inflation still the number one to fear. That’s bullish for gold.
- Currently neutral on crypto’s (bitcoin) and gold
CURRENT TRADING POSITION: NO CURRENT POSITIONS
Bill Taylor is Managing Partner at Fintek Capital & a frequent contributor to FintekNews