GOLD Plunges on Interest Rates. Strong Dollar; BITCOIN Weakens, Going Nowhere (5/15/18)

 Bitcoin Gold


By Bill Taylor, Contributor

We compare the price of Bitcoin, Gold & Major Market Averages on a daily basis, and uses the Chicago Mercantile Exchange’s (CME) bitcoin indexes (BRR & BRTI) for bitcoin pricing.

5/15/18 Closing Prices:

Bitcoin:  $8,632.83  (-$106.35)
Gold:  $1,292  (-$22) 
Dow Jones Industrials:  24,706.41  (-193.00)
S&P 500:  2,711.45 (-18.68)

Nasdaq Composite:  7,351.63 (-59.69)

CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time Index

Trading Summary Notes for Tuesday, 5/15/2018

  • BITCOIN drifting with lack of interest. Still caught in a fairly tight trading range with lack of interest from bulls
  • Increased futures trading has dampened volatility
  • Time for sell stops if long?
  • Near term target $9,500
  • GOLD crashes below $1,300
  • 10 year treasuries solidly above 3% with strength in USD too much for gold.
  • Interest rates and dollar strength trumping inflation fears….for now
  • SOLD GOLD POSITION AT $1,298
  • Going neutral on gold; may see more weakness

CURRENT TRADING POSITION:  Long BITCOIN 


CME CF Bitcoin Reference Rate & CME CF Bitcoin Real Time