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.
6/5/18 Closing Prices:
Bitcoin: $7,400.85 (-79.23)
Ethereum: $583.92 (-1.21)
Gold: $1,297 (+$4)
Dow Jones Industrials: 24,799.98 (-13.71)
S&P 500: 2,748.80 (+1.93)
Nasdaq Composite: 7,637.86 (+31.40)
Trading Summary Notes for Tuesday, 6/5/2018
- Very redundant. BITCOIN, ETHEREUM & GOLD all move in very small increments
- Volatility and trading interest are on summer vacation (or winter vacation in Australia and South America)
- Bitcoin ‘dances’ above and below $7,500, Ethereum keeps testing $600 but can’t get solidly above. Gold struggles around $1,300.
- Choppy (not volatile) markets may be here for a while
- STRONG case can be made for BITCOIN, ETHEREUM and GOLD building longer term base at these levels
- 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