GOLD Vastly Out Performing BITCOIN & ETHEREUM (all Cryptos); Just Not Going Down as Fast (6/12/18)

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.

6/12/18 Closing Prices:

Bitcoin: $6,758.43 (+$31.28)
Ethereum: $524.68 (+$0.60)
Gold: $1,296 (-$5)
Dow Jones Industrials: 25,320.73 (-1.58)
S&P 500: 2,786.85 (+4.85)
Nasdaq Composite: 7,703.79 (+43.87)

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 Tuesday, 6/12/2018

  • Cryptos (BITCOIN & ETHEREUM) still under selling pressure
  • Reasons? Sunday’s hack? U.S./N.K. summit success? U.S. Fed, EU Central Bank and Bank of Japan monetary announcements this week? All of the previous? No clear answer
  • No matter what you think, selling is selling and there is selling going on
  • GOLD struggling to get above $1,300. Can’t hold that “magic” number
  • Fears of inflation being ignored currently. Don’t ignore that
  • 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