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.
6/6/18 Closing Prices:
Bitcoin: $7,630.77 (+229.92)
Ethereum: $608.57 (+24.65)
Gold: $1,297 (-$0-)
Dow Jones Industrials: 25,146.39 (+346.41)
S&P 500: 2,772.35 (+23.55)
Nasdaq Composite: 7,689.24 (+51.38)
Trading Summary Notes for Wednesday, 6/6/2018
- BITCOIN rallies over $7,600, falls back later in afternoon. Still closes higher on day
- ETHEREUM rallies over $600, falls back later in afternoon. Still closes higher on day
- GOLD tries to pierce $1,300, fall back to unchanged
- Volatility and trading interest are on summer vacation
- 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.
- 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