GOLD Rallies Over $1,300, Smells Inflation; BITCOIN, ETHEREUM (Cryptos) Dive Lower (6/13/18)

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.

6/13/18 Closing Prices:

Bitcoin: $6,439.03 (+-$319.40)
Ethereum: $471.49 (-$53.19)
Gold: $1,301 (+$5)
Dow Jones Industrials: 25,201.20 (-119.53)
S&P 500: 2,775.63 (-11.22)
Nasdaq Composite: 7,695.70 (-8.10)

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, 6/13/2018

  • The crypto carnage continues. BITCOIN tests $6,000, Ethereum dives under $500
  • Rumors of crypto trading manipulation and potential exchange closures hurting cryptos
  • Regulation, a complete shakeout and some type of registration will ultimately be very bullish
  • Until then, selling may continue for a while
  • GOLD sticks up its head and closes over $1,300. Beginning to look strong
  • Recent inflation numbers are beginning to “run hot”. Labor shortages ALWAYS lead to upside wage pressures…….and inflation.
  • Will Fed be behind the curve and inflation get out of hand?
  • Long term bullish on BTC, ETH and gold. Neutral right now

CURRENT TRADING POSITION:  NO CURRENT TRADING POSITIONS




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