GOLD Perks Up On Hotter Inflation Numbers; No Crypto Buyers, BTC & ETH Both Drop (7/12/18)

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.

7/12/18 Closing Prices:

Bitcoin: $6,182.42 (-$176.99) 
Ethereum: $429.99 (-$10.67) 
Gold: $1,247 (+$4) 
Dow Jones Industrials: 24,924.89 (+$224.44)
S&P 500: 2,798.29  (+24.27)
Nasdaq Composite: 7,823.92 (+107.31)

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 Thursday, 7/12/2018

  • Inflation numbers beginning to heat up. GOLD rallies after yesterday’s selloff
  • GOLD searching for a bottom. Its around here somewhere. Inflation will trump other “fears”
  • Risk/reward in gold………..risking $50 (down to $1,200) to make $150 ($14,000 target)
  • BITCOIN and ETH can’t hold any rallies. Very choppy trade and basically wandering around
  • Only traders pushing prices around. No new wave of buyer coming in. Just like gold, searching for a bottom
  • Risk/reward here to good to pass up. BTC……risking $2,000 (down to $4,000) to make $13,000 (back to $19K)
  • Long term bullish on BTC, ETH and GOLD

CURRENT TRADING POSITION:  LONG BITCOIN AND GOLD



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