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.
6/418 Closing Prices:
Bitcoin: $7,480.08 (+59.52) (from Friday’s close)
Ethereum: $574.10 (+2.23) (from Friday’s close)
Gold: $1,293 (-$1) (from Friday’s close)
Dow Jones Industrials: 24,813.69 (+178.48)
S&P 500: 2,746.87 (+12.25)
Nasdaq Composite: 7,606.46 (+52.13)
Trading Summary Notes for Monday, 6/4/2018
- Weekend strength in BITCOIN fades on Sunday, but Monday brings a slight rally
- ETHEREUM trades above $600 over the weekend, closes lower Sunday and rallies Monday
- Looking at both cryptos, nothing happening. $7,500 BITCOIN and $600 ETHEREUM seem to be the magnet drawing prices to those numbers
- Volatility non-existent. Traders strike? Building a base? Both?
- GOLD struggles around $1,300. Trade wars vs higher interest rates create a tug-o-war
- Just like the two cryptos, GOLD $1,300 seems like a magnet
- Strong case can be made for BITCOIN, ETHEREUM and GOLD building longer term base at these levels
- 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