GOLD Continues Drop; New Momentum Sends BITCOIN & ETHEREUM Heading Higher (6/20/18)

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.

6/20/18 Closing Prices:

Bitcoin: $6,753.59 (+$64.59) 
Ethereum: $537.76 (+$21.98) 
Gold: $1,270 (-$5) 
Dow Jones Industrials: 24,657.80 (-42.41)
S&P 500: 2,676.32 (+4.73)
Nasdaq Composite: 7,781.52 (+55.93)

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 Wednesday, 6/20/2018

  • GOLD sinks lower as trade tensions heat up
  • Fears of higher interest rates taking a toll on gold
  • Trade tariffs mean higher prices which is called….inflation. Wage demands perking up too
  • Inflation being totally under estimated…..bullish for gold
  • GOLD trading entry point? Try $1,255-$1,260
  • BITCOIN back above $6,700……and climbing
  • If that was a “bitcoin bottom” traders that realize it will be coming back in
  • ETHEREUM solidly above $500. Momentum to the upside
  • BITCOIN back to $8,500? ETHEREUM back to $700?
  • FOMO…..Fear Of Missing Out…….may creep into traders minds as BTC & ETH move higher
  • 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