SEC Says BITCOIN & ETHEREUM Not Securities; Both Rally After the News; GOLD Strengthens (6/14/18)

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.

6/14/18 Closing Prices:

Bitcoin: $6,405.10 (-$33.93)
Ethereum: $474.47 (+$2.98)
Gold: $1,304 (+$3)
Dow Jones Industrials: 25,175.31 (-25.89)
S&P 500: 2,782.49 (+6.86)
Nasdaq Composite: 7,761.04 (+65.34)

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, 6/14/2018

  • SEC (U.S. Securities & Exchange Commission) declares BITCOIN and ETHEREUM are not securities
  • Announcement came after ‘close’, both rally nicely in later trading
  • Still, rumors of crypto trading manipulation and potential exchange closures hanging over market
  • SEC announcement positive for BTC & ETH, but not definitive for cryptos in general. Expect more oversight
  • GOLD now holding above $1,300. U.S. Federal Reserve rate hike not a factor
  • Inflation and wage pressure beginning to take hold
  • Recent inflation numbers are beginning to “run hot”. Labor shortages ALWAYS lead to upside wage pressures…….and inflation
  • Turning positive of GOLD
  • Long term bullish on BTC, ETH and gold

CURRENT TRADING POSITION:  NO CURRENT TRADING POSITIONS




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