CRYPTOs Have Strong Weekend, Move Higher; GOLD Recovers From Early Selloff, Unchanged (5/21/18)


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)

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, 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