Going Nowhere, Sitting Stationary; BITCOIN, ETHEREUM & GOLD Drift in Lackluster Trade (6/8/18)

bitcoin gold


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.

6/8/18 Closing Prices:

Bitcoin: $7,580.01 (-$108.23)
Ethereum: $594.99 (-$10.66)
Gold: $1,299 (+$1)
Dow Jones Industrials: 25,316.53 (+75.12)
S&P 500: 2,779.03 (+8.66)
Nasdaq Composite: 7,645.51 (+10.44)

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, 6/8/2018

  • GOLD keeps bumping $1,300 and no interest to push through
  • BITCOIN keeps holding $7,500, lifts up and settles back
  • ETHEREUM having trouble getting through $600. No interest in selling either
  • Welcome to summer and lackluster trading activity
  • With G7 talks this weekend coming up, traders staying away
  • STRONG case can be made for BITCOIN, ETHEREUM and GOLD building longer term base at these levels
  • Long term bullish on BTC, ETH and gold.

CURRENT TRADING POSITION:  LONG BITCOIN




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