GOLD a Little UP! BITCOIN & ETHEREUM a Little DOWN! Trading Doldrums! (6/5/18)

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.

6/5/18 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)

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 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