NEW THIS WEEK – A WHOLE 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.
5/25/18 Closing Prices:
Bitcoin: $7,493.94 (-$8.91)
Ethereum: $600.48 (-17.02)
Gold: $1,302 (-$3)
Dow Jones Industrials: 24,811.76 (-75.05)
S&P 500: 2,727.76 (-5.53)
Nasdaq Composite: 7,424.43 (-1.53)
Trading Summary Notes for Friday, 5/25/2018
- BITCOIN basically unchanged. Lower after London close
- ETHEREUM drops more than bitcoin. More longs in ETH so more sellers are around
- Regulation, investigations, manipulation rumors have created buying opportunity for BTC & ETH. Fundamentals and long term prospects have not changed
- Very quiet trading ahead of three day weekend in U.S.
- GOLD moves up and tests $1,310, falls back to finish lower on the day
- If gold drops back below $1,300 look for $1,285-$1,290 for support
- UNCERTAINTY abounds and is ruling the markets. Summit talks on/off, interest rates up/down, dollar rallies/weakens. UNCERTAINTY causes dull uninspiring markets
- 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